Clearbridge Investments LLC Sells 117,524 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Clearbridge Investments LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 735,318 shares of the company's stock after selling 117,524 shares during the quarter. Clearbridge Investments LLC owned approximately 0.25% of Bentley Systems worth $34,339,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Bentley Systems in the 3rd quarter valued at $30,000. Private Trust Co. NA increased its stake in shares of 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 buying an additional 378 shares in the last quarter. Tobam bought a new position in shares of Bentley Systems in the fourth quarter valued at about $55,000. Atala Financial Inc acquired a new position in Bentley Systems during the 4th quarter worth about $55,000. Finally, Tortoise Investment Management LLC grew its holdings in Bentley Systems by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock worth $78,000 after acquiring an additional 728 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the transaction, the director now owns 16,703,876 shares of the company's stock, valued at approximately $773,890,575.08. The trade was 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 owned by insiders.

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Bentley Systems Trading Down 3.9 %

Bentley Systems stock traded down $1.56 during midday trading on Friday, hitting $38.66. 1,804,381 shares of the stock were exchanged, compared to its average volume of 1,258,901. Bentley Systems, Incorporated has a 52 week low of $38.28 and a 52 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 market capitalization of $11.27 billion, a PE ratio of 34.83, a P/E/G ratio of 3.52 and a beta of 1.06. The company has a fifty day simple moving average of $43.85 and a two-hundred day simple moving average of $46.82.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Wednesday, March 19th. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's payout ratio is 38.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BSY. Piper Sandler dropped 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. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. Oppenheimer cut Bentley Systems from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Finally, Robert W. Baird cut their price target on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Bentley Systems presently has a consensus rating of "Hold" and an average price target of $55.13.

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.