Bentley Systems, Incorporated $BSY Stock Position Reduced by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC decreased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 981,375 shares of the company’s stock after selling 78,115 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.34% of Bentley Systems worth $50,521,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Bentley Systems in the third quarter valued at approximately $28,000. National Pension Service bought a new stake in Bentley Systems in the third quarter worth approximately $28,000. Allworth Financial LP increased its stake in shares of Bentley Systems by 37.6% during the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after purchasing an additional 192 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Bentley Systems by 682.8% during the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock worth $39,000 after purchasing an additional 635 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $34.10 on Friday. The firm has a market capitalization of $9.96 billion, a PE ratio of 40.60, a PEG ratio of 2.36 and a beta of 1.21. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. Bentley Systems, Incorporated has a 1-year low of $30.97 and a 1-year high of $59.25. The business’s 50 day moving average is $38.02 and its 200-day moving average is $46.16.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, December 4th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, December 4th. Bentley Systems’s dividend payout ratio (DPR) is 33.33%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. Piper Sandler lowered their price objective on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Oppenheimer lowered their price target on Bentley Systems from $65.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, January 20th. Royal Bank Of Canada dropped their price target on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Finally, BMO Capital Markets initiated coverage on shares of Bentley Systems in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $48.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.