Thrive Wealth Management LLC Lowers Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Thrive Wealth Management LLC decreased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 18.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,498 shares of the company’s stock after selling 1,462 shares during the quarter. Thrive Wealth Management LLC’s holdings in Bentley Systems were worth $303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Bentley Systems in the third quarter valued at about $59,400,000. Principal Financial Group Inc. grew its stake in shares of Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after buying an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management acquired a new stake in shares of Bentley Systems in the fourth quarter valued at about $8,413,000. Needham Investment Management LLC acquired a new stake in shares of Bentley Systems in the third quarter valued at about $2,134,000. Finally, Mirabella Financial Services LLP grew its stake in shares of Bentley Systems by 1,155.0% in the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after buying an additional 92,768 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BSY shares. JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. Piper Sandler reduced their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.29.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the sale, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the completion of the sale, the director now directly owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Trading Down 1.2 %

NASDAQ:BSY opened at $45.44 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average is $47.77 and its two-hundred day moving average is $48.78. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a market cap of $13.21 billion, a PE ratio of 40.94, a P/E/G ratio of 3.43 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same quarter last year, the business posted $0.18 EPS. Bentley Systems’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

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.