Harvest Fund Management Co. Ltd Sells 283 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Harvest Fund Management Co. Ltd decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,833 shares of the company’s stock after selling 283 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Bentley Systems were worth $97,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in Bentley Systems by 223.4% in the third quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after buying an additional 722,046 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after buying an additional 578,512 shares in the last quarter. Vanguard Group Inc. boosted its stake in Bentley Systems by 2.6% in the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after buying an additional 556,363 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Bentley Systems by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock valued at $54,656,000 after buying an additional 327,577 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bentley Systems by 13.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,734 shares of the company’s stock valued at $70,311,000 after buying an additional 170,581 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was 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 of the company’s stock, valued at approximately $943,291,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is owned by insiders.

Bentley Systems Trading Down 0.1 %

NASDAQ BSY opened at $54.37 on Friday. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 54.92, a P/E/G ratio of 5.48 and a beta of 1.10. Bentley Systems, Incorporated has a 52 week low of $40.92 and a 52 week high of $55.37. The business has a 50 day moving average price of $50.78 and a 200-day moving average price of $50.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, equities analysts expect that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.06 per share. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. Bentley Systems’s payout ratio is currently 24.24%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating on the stock. Rosenblatt Securities raised Bentley Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $54.00 to $60.00 in a research note on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Robert W. Baird raised their price objective on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Piper Sandler restated an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

About Bentley Systems

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.