Bridgewater Associates LP Sells 96,395 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bridgewater Associates LP lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 460,289 shares of the company's stock after selling 96,395 shares during the quarter. Bridgewater Associates LP owned 0.16% of Bentley Systems worth $21,495,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BSY. Intech Investment Management LLC lifted its stake in shares of Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock worth $340,000 after buying an additional 254 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Bentley Systems by 3.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock valued at $469,000 after acquiring an additional 317 shares during the period. Prudential PLC lifted its holdings in Bentley Systems by 0.6% during the 4th quarter. Prudential PLC now owns 63,008 shares of the company's stock worth $2,942,000 after buying an additional 371 shares in the last quarter. Private Trust Co. NA raised its holdings in Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after acquiring an additional 378 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Bentley Systems by 4.3% during the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company's stock worth $426,000 after acquiring an additional 380 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BSY shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. KeyCorp cut their target price on shares of Bentley Systems from $63.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday. Oppenheimer upgraded Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price objective for the company in a report on Thursday, April 10th. Robert W. Baird cut their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler dropped their price target on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of "Moderate Buy" and an average target price of $52.70.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents 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 0.4 %

NASDAQ BSY traded down $0.17 during trading hours on Friday, hitting $43.19. The company's stock had a trading volume of 1,926,511 shares, compared to its average volume of 1,221,141. The company's 50-day simple moving average is $42.70 and its two-hundred day simple moving average is $46.17. The company has a market capitalization of $12.59 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. The company has a current ratio of 0.52, a quick 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.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems's payout ratio is presently 38.36%.

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.