Victory Capital Management Inc. Lowers Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Victory Capital Management Inc. cut its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,917 shares of the company's stock after selling 8,182 shares during the period. Victory Capital Management Inc.'s holdings in Bentley Systems were worth $4,059,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company's stock valued at $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock valued at $10,396,000 after purchasing an additional 34,871 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Bentley Systems by 4.3% during the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company's stock valued at $468,000 after purchasing an additional 378 shares in the last quarter. Mizuho Markets Americas LLC lifted its holdings in Bentley Systems by 5.7% during the third quarter. Mizuho Markets Americas LLC now owns 550,157 shares of the company's stock valued at $27,953,000 after purchasing an additional 29,473 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Bentley Systems by 0.7% during the third quarter. Swiss National Bank now owns 470,900 shares of the company's stock valued at $23,926,000 after purchasing an additional 3,400 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

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Bentley Systems Trading Up 0.7 %

BSY stock traded up $0.31 during mid-day trading on Wednesday, hitting $42.18. 600,966 shares of the company were exchanged, compared to its average volume of 1,194,774. 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 firm has a market capitalization of $12.30 billion, a P/E ratio of 37.98, a PEG ratio of 3.52 and a beta of 1.04. The business has a fifty day simple moving average of $45.20 and a 200-day simple moving average of $47.56. Bentley Systems, Incorporated has a 12-month low of $39.98 and a 12-month high of $57.19.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, March 19th. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is 38.36%.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the transaction, the director now owns 16,703,876 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. 21.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced 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 report on Wednesday, January 8th. Robert W. Baird reduced their target price 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. assumed coverage on shares of Bentley Systems in a research report on Monday, December 9th. They issued a "neutral" rating and a $52.00 target price for the company. Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. Finally, Oppenheimer cut shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.14.

Bentley Systems Company 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.