Korea Investment CORP Trims Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Korea Investment CORP decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 61.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,744 shares of the company's stock after selling 92,192 shares during the quarter. Korea Investment CORP's holdings in Bentley Systems were worth $2,650,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Point72 Hong Kong Ltd acquired a new position in Bentley Systems during the third quarter worth $30,000. Private Trust Co. NA boosted its position in shares of Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after acquiring an additional 378 shares during the last quarter. Tobam purchased a new stake in shares of Bentley Systems in the fourth quarter valued at about $55,000. Atala Financial Inc acquired a new stake in Bentley Systems during the fourth quarter worth about $55,000. Finally, Tortoise Investment Management LLC raised its stake in Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock worth $78,000 after purchasing an additional 728 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Down 3.9 %

Shares of BSY traded down $1.56 during midday trading on Friday, hitting $38.66. The company had a trading volume of 1,804,381 shares, compared to its average volume of 1,258,901. The company's 50-day simple moving average is $43.85 and its 200-day simple moving average is $46.82. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a 1 year low of $38.28 and a 1 year high of $57.19. The firm has a market capitalization of $11.27 billion, a P/E ratio of 34.83, a P/E/G ratio of 3.52 and a beta of 1.06.

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Bentley Systems Increases Dividend

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

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The sale 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 insiders.

Analyst Ratings Changes

BSY has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Oppenheimer downgraded shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $55.13.

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.