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

TimesSquare Capital Management LLC lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and 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’s holdings in Bentley Systems were worth $57,181,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in Bentley Systems during the 1st quarter worth approximately $920,000. CWM LLC grew its stake in shares of Bentley Systems by 31.1% during the first quarter. CWM LLC now owns 38,413 shares of the company’s stock worth $1,511,000 after buying an additional 9,110 shares during the last quarter. MQS Management LLC acquired a new position in shares of Bentley Systems during the first quarter worth $275,000. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Bentley Systems during the first quarter worth $271,000. Finally, Larson Financial Group LLC lifted its stake in shares of Bentley Systems by 1,707.1% in the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after acquiring an additional 717 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BSY. UBS Group boosted their price objective on Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Piper Sandler decreased their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group raised their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.73.

Bentley Systems Stock Down 2.9%

Bentley Systems stock opened at $44.97 on Wednesday. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 3.59 and a beta of 1.12. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. 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 firm has a 50 day moving average price of $51.62 and a two-hundred day moving average price of $51.82.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate 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 period in the prior year, the company posted $0.24 earnings per share. Bentley Systems’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

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

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.