Bentley Systems, Incorporated $BSY Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 71.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,805 shares of the company’s stock after selling 26,498 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Bentley Systems were worth $556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSY. AGF Management Ltd. raised its position in shares of Bentley Systems by 7.4% in the 2nd quarter. AGF Management Ltd. now owns 109,983 shares of the company’s stock valued at $5,936,000 after purchasing an additional 7,536 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in Bentley Systems by 66.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 78,808 shares of the company’s stock valued at $4,244,000 after purchasing an additional 31,402 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Bentley Systems by 3.6% in the second quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after buying an additional 68,155 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Bentley Systems during the first quarter worth $333,000. Finally, Norges Bank purchased a new stake in shares of Bentley Systems during the second quarter valued at $56,452,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BSY. Piper Sandler reduced their target price on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Robert W. Baird decreased their target price on Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price target on shares of Bentley Systems in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.73.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $39.00 on Monday. The company has a market capitalization of $11.39 billion, a PE ratio of 46.43, a price-to-earnings-growth ratio of 3.06 and a beta of 1.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The company’s fifty day moving average price is $44.08 and its 200 day moving average price is $50.48. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The company had revenue of $375.55 million during the quarter, compared to analysts’ expectations of $369.57 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Bentley Systems’s dividend payout ratio is currently 33.33%.

Bentley Systems 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.