TimesSquare Capital Management LLC Cuts Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

TimesSquare Capital Management LLC cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,317,026 shares of the company’s stock after selling 103,230 shares during the quarter. TimesSquare Capital Management LLC owned about 0.46% of Bentley Systems worth $68,722,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Bentley Systems in the 3rd quarter worth about $354,000. Commonwealth Equity Services LLC grew its position in Bentley Systems by 36.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 41,487 shares of the company’s stock valued at $2,081,000 after purchasing an additional 11,012 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Bentley Systems by 60.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 28,121 shares of the company’s stock valued at $1,411,000 after purchasing an additional 10,545 shares during the last quarter. Strs Ohio purchased a new stake in Bentley Systems during the 3rd quarter valued at about $1,124,000. Finally, IFM Investors Pty Ltd grew its position in Bentley Systems by 1.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 45,222 shares of the company’s stock valued at $2,268,000 after purchasing an additional 701 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Keith A. Bentley sold 118,949 shares of Bentley Systems stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the sale, the director now directly owns 17,031,803 shares in the company, valued at $936,919,483.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 118,949 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the transaction, the director now owns 17,031,803 shares in the company, valued at approximately $936,919,483.03. The disclosure for this sale can be found here. Insiders have sold a total of 224,895 shares of company stock worth $11,879,548 over the last quarter. Insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY traded up $0.65 on Thursday, reaching $55.01. The company’s stock had a trading volume of 871,558 shares, compared to its average volume of 1,318,590. Bentley Systems, Incorporated has a 12-month low of $44.46 and a 12-month high of $55.37. The stock has a market capitalization of $15.72 billion, a P/E ratio of 54.91, a PEG ratio of 5.36 and a beta of 1.08. The stock’s 50 day simple moving average is $51.01 and its two-hundred day simple moving average is $50.91. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The company had revenue of $310.64 million for the quarter, compared to analysts’ expectations of $313.67 million. During the same quarter last year, the business earned $0.13 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Research analysts forecast that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s dividend payout ratio (DPR) is presently 24.24%.

Analyst Ratings Changes

Several analysts recently commented on BSY shares. William Blair started coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price target (up previously from $60.00) on shares of Bentley Systems in a report on Wednesday. Robert W. Baird raised their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

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.