TimesSquare Capital Management LLC Has $50.52 Million Position in Bentley Systems, Incorporated $BSY

TimesSquare Capital Management LLC cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 981,375 shares of the company’s stock after selling 78,115 shares during the period. TimesSquare Capital Management LLC’s holdings in Bentley Systems were worth $50,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of BSY. Geneos Wealth Management Inc. raised its position in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the last quarter. Blue Trust Inc. boosted its stake in Bentley Systems by 19.3% in the second quarter. Blue Trust Inc. now owns 1,305 shares of the company’s stock valued at $70,000 after acquiring an additional 211 shares during the last quarter. Aberdeen Group plc bought a new position in shares of Bentley Systems in the 2nd quarter worth $201,000. Vanguard Personalized Indexing Management LLC lifted its stake in Bentley Systems by 32.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,178 shares of the company’s stock valued at $1,359,000 after buying an additional 6,135 shares during the period. Finally, CWM LLC boosted its holdings in Bentley Systems by 19.2% during the second quarter. CWM LLC now owns 45,793 shares of the company’s stock worth $2,471,000 after buying an additional 7,380 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BSY. Royal Bank Of Canada dropped their price objective on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. BMO Capital Markets assumed coverage on Bentley Systems in a report on Thursday, January 22nd. They set an “outperform” rating and a $48.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price objective on shares of Bentley Systems in a report on Thursday, November 6th. Finally, Oppenheimer decreased their target price on shares of Bentley Systems from $65.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, January 20th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.00.

Bentley Systems Stock Performance

BSY stock opened at $34.10 on Friday. Bentley Systems, Incorporated has a one year low of $30.97 and a one year high of $59.25. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 40.60, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The company has a fifty day moving average price of $38.02 and a two-hundred day moving average price of $46.16. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, December 4th. Bentley Systems’s dividend payout ratio (DPR) is currently 33.33%.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.