TimesSquare Capital Management LLC Sells 38,686 Shares of Bentley Systems, Incorporated $BSY

TimesSquare Capital Management LLC lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,059,490 shares of the company’s stock after selling 38,686 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.36% of Bentley Systems worth $57,181,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Teacher Retirement System of Texas acquired a new stake in Bentley Systems during the 1st quarter valued at $920,000. CWM LLC raised its position in shares of Bentley Systems by 31.1% in the first quarter. CWM LLC now owns 38,413 shares of the company’s stock valued at $1,511,000 after purchasing an additional 9,110 shares during the period. Bessemer Group Inc. lifted its stake in shares of Bentley Systems by 3.6% during the 2nd 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 1st quarter worth about $333,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after buying an additional 898,115 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BSY has been the topic of several research analyst reports. Robert W. Baird lowered their price target on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Piper Sandler lowered their target price on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. UBS Group boosted their price target on Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Stock Down 2.9%

BSY stock opened at $44.97 on Wednesday. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The business has a 50-day simple moving average of $51.62 and a 200 day simple moving average of $51.82. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a market cap of $13.13 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 3.59 and a beta of 1.12.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $375.55 million for the quarter, compared to analyst estimates of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, September 23rd. Bentley Systems’s payout ratio is currently 33.33%.

Bentley Systems 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.