Vanguard Group Inc. lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,101,741 shares of the company's stock after selling 243,933 shares during the quarter. Vanguard Group Inc. owned approximately 5.88% of Bentley Systems worth $798,651,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems during the third quarter worth about $30,000. Private Trust Co. NA grew its stake in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after purchasing an additional 378 shares during the last quarter. Tobam acquired a new position in shares of Bentley Systems in the fourth quarter valued at approximately $55,000. Atala Financial Inc acquired a new stake in shares of Bentley Systems during the fourth quarter worth $55,000. Finally, Tortoise Investment Management LLC grew its position in Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock valued at $78,000 after buying an additional 728 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on BSY shares. Oppenheimer downgraded shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. The Goldman Sachs Group downgraded shares of Bentley Systems from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Piper Sandler cut their target price on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They issued a "neutral" rating and a $52.00 price target on the stock. Finally, UBS Group started coverage on Bentley Systems in a research report on Monday. They issued a "neutral" rating and a $48.00 price objective for the company. 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 company's stock. According to MarketBeat, Bentley Systems currently has a consensus rating of "Hold" and a consensus price target of $55.13.
Check Out Our Latest Research Report on Bentley Systems
Insider Buying and Selling
In related news, Director Keith A. Bentley sold 1,152 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 16,703,876 shares of the company's stock, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is owned by company insiders.
Bentley Systems Stock Down 2.2 %
Bentley Systems stock traded down $0.91 during midday trading on Thursday, hitting $40.22. 1,449,015 shares of the company were exchanged, compared to its average volume of 1,255,349. The company has a market cap of $11.73 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The company's fifty day moving average price is $44.00 and its 200-day moving average price is $46.94. Bentley Systems, Incorporated has a fifty-two week low of $38.66 and a fifty-two week high of $57.19. 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 Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a $0.07 dividend. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.70%. Bentley Systems's dividend payout ratio (DPR) is presently 38.36%.
About Bentley Systems
(
Free Report)
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.
Further Reading
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