Forsta AP Fonden Has $3.24 Million Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Forsta AP Fonden decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,300 shares of the company's stock after selling 35,000 shares during the quarter. Forsta AP Fonden's holdings in Bentley Systems were worth $3,236,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Impax Asset Management Group plc bought a new position in shares of Bentley Systems in the 3rd quarter valued at about $88,771,000. Swedbank AB grew its position in shares of Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company's stock worth $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Bentley Systems in the 3rd quarter valued at about $42,773,000. Handelsbanken Fonder AB lifted its holdings in Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company's stock worth $67,222,000 after buying an additional 390,000 shares during the period. Finally, Copeland Capital Management LLC raised its holdings in Bentley Systems by 60.9% in the third quarter. Copeland Capital Management LLC now owns 683,962 shares of the company's stock worth $34,752,000 after purchasing an additional 258,992 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Trading Up 0.6 %

Shares of BSY stock traded up $0.29 during mid-day trading on Wednesday, hitting $46.99. 660,947 shares of the company's stock were exchanged, compared to its average volume of 1,192,932. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week 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 stock has a 50-day simple moving average of $47.33 and a two-hundred day simple moving average of $48.53. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 3.48 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate 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 analyst estimates of $340.36 million. During the same period in the previous year, the company posted $0.18 EPS. Bentley Systems's revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were paid a $0.06 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. Bentley Systems's payout ratio is 21.62%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BSY. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a report on Monday, December 9th. They set a "neutral" rating and a $52.00 price objective on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Finally, Piper Sandler reduced their price target on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $57.29.

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.