Legal & General Group Plc cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 34.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 596,205 shares of the company's stock after selling 307,624 shares during the quarter. Legal & General Group Plc owned about 0.21% of Bentley Systems worth $27,843,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantinno Capital Management LP bought a new position in shares of Bentley Systems during the third quarter valued at approximately $249,000. MML Investors Services LLC increased its position in Bentley Systems by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 26,991 shares of the company's stock valued at $1,371,000 after buying an additional 741 shares in the last quarter. Toronto Dominion Bank raised its stake in Bentley Systems by 30.9% during the third quarter. Toronto Dominion Bank now owns 20,188 shares of the company's stock valued at $1,026,000 after buying an additional 4,770 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Bentley Systems in the third quarter worth $110,000. Finally, Sanctuary Advisors LLC grew its stake in shares of Bentley Systems by 5.1% in the third quarter. Sanctuary Advisors LLC now owns 77,380 shares of the company's stock worth $3,754,000 after acquiring an additional 3,732 shares during the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Bentley Systems
In other news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction dated Friday, January 24th. The stock was 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 of the company's stock, 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.
Bentley Systems Stock Performance
NASDAQ BSY traded down $0.38 on Tuesday, hitting $42.62. 1,311,127 shares of the company traded hands, compared to its average volume of 1,276,894. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The business's 50 day moving average price is $42.88 and its 200-day moving average price is $46.29. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 38.40, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19.
Bentley Systems Increases Dividend
The company 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 0.66%. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems's dividend payout ratio is currently 38.36%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. UBS Group started coverage on shares of Bentley Systems in a report on Monday, March 31st. They set a "neutral" rating and a $48.00 price target on the stock. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Robert W. Baird reduced their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $52.56.
Check Out Our Latest Report on Bentley Systems
About Bentley Systems
(
Free Report)
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.
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