Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,959,344 shares of the company's stock after selling 50,010 shares during the quarter. Geode Capital Management LLC owned 1.02% of Bentley Systems worth $137,962,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Swedbank AB raised its stake in shares of Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company's stock valued at $327,242,000 after acquiring an additional 1,873,029 shares during the period. Impax Asset Management Group plc increased its holdings in Bentley Systems by 41.9% in the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock valued at $115,719,000 after purchasing an additional 736,369 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Bentley Systems by 591.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock valued at $26,446,000 after purchasing an additional 475,361 shares in the last quarter. LBP AM SA purchased a new position in Bentley Systems in the fourth quarter valued at about $13,591,000. Finally, Bar Harbor Wealth Management acquired a new position in shares of Bentley Systems during the fourth quarter worth about $8,413,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Analysts Set New Price Targets

BSY has been the subject of a number of recent research reports. The Goldman Sachs Group lowered Bentley Systems from a "neutral" rating to a "sell" rating and lowered their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday. Oppenheimer raised shares of Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Thursday. Piper Sandler decreased their target price on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group assumed coverage on shares of Bentley Systems in a research note on Monday, March 31st. They set a "neutral" rating and a $48.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Bentley Systems currently has an average rating of "Moderate Buy" and a consensus price target of $53.67.

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Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 21.12% of the company's stock.

Bentley Systems Stock Up 0.7 %

Shares of BSY traded up $0.30 during midday trading on Friday, hitting $41.90. The company had a trading volume of 1,544,930 shares, compared to its average volume of 1,275,628. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $57.19. The company's 50 day moving average price is $43.04 and its 200 day moving average price is $46.40. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 3.52 and a beta of 1.06.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Wednesday, March 19th. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is currently 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.