Bentley Systems, Incorporated (NASDAQ:BSY) Stock Position Lowered by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC decreased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,038 shares of the company's stock after selling 18,999 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Bentley Systems were worth $6,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB grew its stake in shares of Bentley Systems by 36.5% during the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company's stock valued at $327,242,000 after buying an additional 1,873,029 shares during the period. Impax Asset Management Group plc purchased a new stake in shares of Bentley Systems during the 3rd quarter worth about $88,771,000. TimesSquare Capital Management LLC grew its stake in Bentley Systems by 3.5% during the third quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company's stock worth $58,998,000 after buying an additional 39,205 shares during the period. Fiera Capital Corp grew its stake in Bentley Systems by 13.2% during the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company's stock worth $44,517,000 after buying an additional 111,433 shares during the period. Finally, Bridgewater Associates LP grew its stake in Bentley Systems by 6.4% during the third quarter. Bridgewater Associates LP now owns 556,684 shares of the company's stock worth $28,285,000 after buying an additional 33,344 shares during the period. Hedge funds and other institutional investors own 44.16% of the company's stock.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the sale, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 21.12% of the stock is owned by company insiders.

Analyst Ratings Changes

BSY has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a "neutral" rating and a $52.00 price target for the company. Finally, Piper Sandler reduced their price target on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

Bentley Systems Stock Performance

NASDAQ:BSY traded down $0.94 during mid-day trading on Friday, hitting $45.59. The stock had a trading volume of 946,731 shares, compared to its average volume of 983,943. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 41.07, a P/E/G ratio of 3.52 and a beta of 1.03. The company has a 50 day simple moving average of $46.75 and a 200-day simple moving average of $48.41. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

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.