Bar Harbor Wealth Management Has $10.60 Million Holdings in Bentley Systems, Incorporated $BSY

Bar Harbor Wealth Management increased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,466 shares of the company’s stock after acquiring an additional 6,025 shares during the period. Bar Harbor Wealth Management owned about 0.07% of Bentley Systems worth $10,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BSY. Bessemer Group Inc. raised its holdings in shares of Bentley Systems by 8,187,760.9% in the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock worth $74,086,000 after acquiring an additional 1,883,185 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Bentley Systems by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after acquiring an additional 898,115 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Bentley Systems in the 1st quarter worth about $15,960,000. SG Americas Securities LLC raised its holdings in shares of Bentley Systems by 449.7% in the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company’s stock worth $15,118,000 after acquiring an additional 314,387 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Bentley Systems in the 1st quarter worth about $11,901,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Buying and Selling at Bentley Systems

In other news, insider David R. Shaman sold 19,348 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the transaction, the insider directly owned 647,609 shares of the company’s stock, valued at $36,887,808.64. This represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 20,713 shares of company stock worth $1,180,690. 20.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BSY has been the topic of a number of analyst reports. Rosenblatt Securities lowered shares of Bentley Systems from a “buy” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. Wall Street Zen lowered shares of Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the company an “outperform” rating in a research note on Wednesday, July 30th. KeyCorp increased their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Finally, Barclays initiated coverage on shares of Bentley Systems in a research note on Tuesday. They issued an “equal weight” rating and a $57.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bentley Systems currently has a consensus rating of “Hold” and a consensus price target of $56.64.

Bentley Systems Stock Down 3.1%

Bentley Systems stock opened at $50.91 on Thursday. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The firm has a 50 day moving average price of $53.75 and a 200-day moving average price of $50.21. The company has a market capitalization of $14.87 billion, a P/E ratio of 64.44, a P/E/G ratio of 4.24 and a beta of 1.07. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is currently 35.44%.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.