Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Empire Life Investments Inc.

Empire Life Investments Inc. trimmed its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,397 shares of the company's stock after selling 16,668 shares during the quarter. Empire Life Investments Inc. owned about 0.08% of Bentley Systems worth $10,993,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BSY. Point72 Hong Kong Ltd acquired a new position in shares of Bentley Systems in the 3rd quarter valued at $30,000. Tobam acquired a new position in Bentley Systems in the fourth quarter valued at $55,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Bentley Systems by 71.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company's stock valued at $107,000 after acquiring an additional 880 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Bentley Systems during the third quarter valued at about $110,000. Finally, Blue Trust Inc. increased its stake in Bentley Systems by 291.0% during the third quarter. Blue Trust Inc. now owns 2,682 shares of the company's stock worth $132,000 after acquiring an additional 1,996 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now owns 16,705,028 shares of the company's stock, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.12% of the company's stock.

Bentley Systems Stock Down 0.5 %

BSY traded down $0.26 during trading hours on Wednesday, reaching $47.44. 757,091 shares of the stock traded hands, compared to its average volume of 1,115,197. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The company has a market cap of $13.79 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 3.57 and a beta of 1.03. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm's fifty day simple moving average is $46.82 and its two-hundred day simple moving average is $48.42.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. Bentley Systems's dividend payout ratio is presently 21.62%.

Analyst Ratings Changes

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

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.