Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,071,477 shares of the company's stock after selling 126,840 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.37% of Bentley Systems worth $50,038,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP purchased a new stake in shares of Bentley Systems during the third quarter worth $249,000. MML Investors Services LLC boosted its position in Bentley Systems by 2.8% during the third quarter. MML Investors Services LLC now owns 26,991 shares of the company's stock worth $1,371,000 after acquiring an additional 741 shares during the last quarter. Toronto Dominion Bank grew its stake in Bentley Systems by 30.9% during the 3rd quarter. Toronto Dominion Bank now owns 20,188 shares of the company's stock valued at $1,026,000 after acquiring an additional 4,770 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Bentley Systems in the 3rd quarter valued at about $110,000. Finally, Sanctuary Advisors LLC lifted its stake in Bentley Systems by 5.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 77,380 shares of the company's stock worth $3,754,000 after purchasing an additional 3,732 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BSY shares. UBS Group assumed coverage on Bentley Systems in a report on Monday, March 31st. They issued a "neutral" rating and a $48.00 price target for the company. Oppenheimer upgraded Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a report on Thursday, April 10th. Piper Sandler dropped their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a 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 on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price target for the company from $51.00 to $42.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.56.

Remove Ads

Bentley Systems Stock Down 0.7 %

Shares of NASDAQ BSY traded down $0.32 during midday trading on Tuesday, hitting $42.68. 541,082 shares of the company's stock were exchanged, compared to its average volume of 1,272,798. The firm's fifty day simple moving average is $42.96 and its 200-day simple moving average is $46.31. The company has a market cap of $12.44 billion, a PE ratio of 38.45, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Wednesday, March 19th. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's payout ratio is currently 38.36%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 21.12% of the company's stock.

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.