Handelsbanken Fonder AB Has $55.84 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Handelsbanken Fonder AB lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 9.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,195,600 shares of the company's stock after selling 127,400 shares during the quarter. Handelsbanken Fonder AB owned about 0.41% of Bentley Systems worth $55,835,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in shares of Bentley Systems in the 3rd quarter valued at approximately $30,000. Tobam bought a new position in Bentley Systems during the 4th quarter worth $55,000. Whittier Trust Co. of Nevada Inc. grew its stake in Bentley Systems by 71.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company's stock worth $107,000 after buying an additional 880 shares during the last quarter. Anchor Investment Management LLC bought a new position in Bentley Systems during the 3rd quarter worth $110,000. Finally, Blue Trust Inc. grew its stake in Bentley Systems by 291.0% during the 3rd quarter. Blue Trust Inc. now owns 2,682 shares of the company's stock worth $132,000 after buying an additional 1,996 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analyst Weigh In

BSY has been the subject of a number of recent research reports. Rosenblatt Securities restated a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on 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 decreased their price target on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.00.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded down $0.94 during trading on Friday, hitting $45.59. The stock had a trading volume of 946,731 shares, compared to its average volume of 983,943. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The firm has a market cap of $13.25 billion, a P/E ratio of 41.07, a PEG ratio of 3.52 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 business has a fifty day moving average of $46.75 and a two-hundred day moving average of $48.41.

Insider Activity

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

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.