Rockefeller Capital Management L.P. boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 676.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,204 shares of the company's stock after purchasing an additional 18,473 shares during the period. Rockefeller Capital Management L.P.'s holdings in Bentley Systems were worth $648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Bentley Systems by 21.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,707,419 shares of the company's stock worth $389,857,000 after buying an additional 2,068,341 shares during the period. Brown Advisory Inc. increased its position in shares of Bentley Systems by 2,555.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,170,693 shares of the company's stock worth $38,985,000 after purchasing an additional 1,126,613 shares in the last quarter. Raymond James & Associates increased its position in shares of Bentley Systems by 295.8% during the 3rd quarter. Raymond James & Associates now owns 940,500 shares of the company's stock worth $28,770,000 after purchasing an additional 702,875 shares in the last quarter. Robeco Schweiz AG acquired a new stake in shares of Bentley Systems during the 2nd quarter worth about $23,029,000. Finally, Creative Planning increased its position in Bentley Systems by 5,923.7% in the 2nd quarter. Creative Planning now owns 568,400 shares of the company's stock valued at $18,928,000 after acquiring an additional 558,964 shares in the last quarter. 36.12% of the stock is owned by institutional investors and hedge funds.
Get Bentley Systems alerts:Insider Buying and Selling at Bentley Systems
In other Bentley Systems news, CEO Gregory S. Bentley sold 50,110 shares of the stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $38.33, for a total transaction of $1,920,716.30. Following the completion of the sale, the chief executive officer now owns 8,297,842 shares of the company's stock, valued at approximately $318,056,283.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bentley Systems news, Director Kirk B. Griswold sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $36.82, for a total transaction of $1,288,700.00. Following the transaction, the director now directly owns 502,204 shares in the company, valued at approximately $18,491,151.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory S. Bentley sold 50,110 shares of the stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $38.33, for a total value of $1,920,716.30. Following the completion of the transaction, the chief executive officer now owns 8,297,842 shares in the company, valued at $318,056,283.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,641 shares of company stock valued at $6,366,659. 22.53% of the stock is currently owned by company insiders.
Bentley Systems Stock Performance
Bentley Systems stock opened at $39.16 on Monday. The business has a 50 day moving average of $37.89 and a 200-day moving average of $36.67. Bentley Systems, Incorporated has a 1 year low of $26.32 and a 1 year high of $45.70. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $10.84 billion, a P/E ratio of 66.37, a P/E/G ratio of 7.13 and a beta of 1.23.Bentley Systems (NASDAQ:BSY – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Bentley Systems had a return on equity of 49.27% and a net margin of 17.37%. The company had revenue of $268.33 million during the quarter, compared to the consensus estimate of $268.93 million. On average, equities research analysts predict that Bentley Systems, Incorporated will post 0.65 earnings per share for the current year.
Bentley Systems Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, February 17th. This is an increase from Bentley Systems's previous quarterly dividend of $0.03. Bentley Systems's dividend payout ratio is currently 20.34%.
Analysts Set New Price Targets
Several research firms have weighed in on BSY. Royal Bank of Canada lowered their price objective on shares of Bentley Systems from $46.00 to $44.00 and set an "outperform" rating for the company in a research report on Friday, October 28th. Mizuho lifted their price objective on shares of Bentley Systems from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, December 8th. Oppenheimer reiterated an "outperform" rating and issued a $48.00 price objective on shares of Bentley Systems in a report on Tuesday, November 22nd. Rosenblatt Securities boosted their target price on shares of Bentley Systems from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, November 9th. Finally, The Goldman Sachs Group upgraded shares of Bentley Systems from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $38.00 to $44.00 in a report on Wednesday, November 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.33.
About Bentley Systems
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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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.
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