Commerce Bank Has $7.42 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Commerce Bank grew its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,944 shares of the company’s stock after buying an additional 4,838 shares during the quarter. Commerce Bank owned 0.05% of Bentley Systems worth $7,415,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Clear Harbor Asset Management LLC boosted its stake in Bentley Systems by 1.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after purchasing an additional 220 shares during the last quarter. Advisor OS LLC boosted its position in shares of Bentley Systems by 0.7% during the second quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock valued at $1,529,000 after buying an additional 226 shares during the last quarter. Magnolia Capital Advisors LLC grew its holdings in Bentley Systems by 5.4% during the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock worth $242,000 after buying an additional 249 shares in the last quarter. GAMMA Investing LLC raised its position in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the last quarter. Finally, WR Wealth Planners LLC lifted its stake in Bentley Systems by 4.5% during the 2nd quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock valued at $318,000 after acquiring an additional 275 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BSY shares. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Piper Sandler lifted their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.50.

Insider Buying and Selling

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 326,032 shares of company stock valued at $16,168,176. Company insiders own 21.12% of the company’s stock.

Bentley Systems Trading Up 2.5 %

Shares of BSY stock opened at $47.85 on Friday. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. 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 company has a 50 day moving average of $49.32 and a 200-day moving average of $50.06. The firm has a market cap of $13.91 billion, a P/E ratio of 43.11, a PEG ratio of 3.99 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s payout ratio is currently 21.62%.

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.