Alliancebernstein L.P. Sells 250,580 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Alliancebernstein L.P. decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,771,352 shares of the company's stock after selling 250,580 shares during the period. Alliancebernstein L.P. owned 0.95% of Bentley Systems worth $129,422,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Bentley Systems in the third quarter worth $30,000. Private Trust Co. NA boosted its position in shares of Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after purchasing an additional 378 shares in the last quarter. Tobam acquired a new stake in shares of Bentley Systems in the 4th quarter valued at about $55,000. Atala Financial Inc bought a new stake in Bentley Systems in the 4th quarter valued at about $55,000. Finally, CIBC Private Wealth Group LLC raised its stake in Bentley Systems by 42.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock worth $78,000 after buying an additional 495 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on BSY. UBS Group assumed coverage on Bentley Systems in a research note on Monday, March 31st. They issued a "neutral" rating and a $48.00 price objective for the company. Robert W. Baird reduced their price target on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a "neutral" rating and a $52.00 price target for the company. Piper Sandler dropped their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $55.13.

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Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the transaction, the director now owns 16,703,876 shares of the company's stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.12% of the company's stock.

Bentley Systems Stock Up 1.2 %

Shares of NASDAQ BSY traded up $0.46 during trading on Monday, hitting $39.12. The stock had a trading volume of 2,502,070 shares, compared to its average volume of 1,263,854. The firm has a fifty day moving average of $43.68 and a two-hundred day moving average of $46.74. The company has a market capitalization of $11.41 billion, a PE ratio of 35.24, a PEG ratio of 3.52 and a beta of 1.06. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $57.19.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.72%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. Bentley Systems's dividend payout ratio is presently 38.36%.

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.