Thornburg Investment Management Inc. Sells 2,123 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Thornburg Investment Management Inc. reduced its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,655 shares of the company’s stock after selling 2,123 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Bentley Systems were worth $6,615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA raised its holdings in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after buying an additional 378 shares in the last quarter. Tobam bought a new stake in Bentley Systems in the fourth quarter valued at $55,000. Atala Financial Inc acquired a new position in Bentley Systems during the fourth quarter worth $55,000. Tortoise Investment Management LLC lifted its holdings in shares of Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after acquiring an additional 728 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Bentley Systems by 42.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company’s stock valued at $78,000 after purchasing an additional 495 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Performance

BSY stock opened at $47.97 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $57.19. The business’s fifty day moving average is $42.76 and its 200-day moving average is $45.52. The company has a market cap of $14.00 billion, a P/E ratio of 43.22, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same period in the previous year, the company earned $0.31 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.58%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is currently 35.44%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BSY. The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Rosenblatt Securities dropped their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a report on Monday, May 5th. KeyCorp boosted their target price on Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Robert W. Baird dropped their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Oppenheimer boosted their price objective on Bentley Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average target price of $52.00.

Insider Activity

In other news, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now owns 68,064 shares in the company, valued at $3,068,325.12. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.56% of the stock is owned by company insiders.

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.