National Bank of Canada FI Has $3.50 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

National Bank of Canada FI cut its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 74,893 shares of the company's stock after selling 10,989 shares during the quarter. National Bank of Canada FI's holdings in Bentley Systems were worth $3,502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Bentley Systems by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock worth $49,161,000 after acquiring an additional 15,372 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Bentley Systems in the 4th quarter worth approximately $809,000. Principal Financial Group Inc. raised its holdings in shares of Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock worth $10,396,000 after purchasing an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management bought a new stake in shares of Bentley Systems in the 4th quarter worth approximately $8,413,000. Finally, Bank of New York Mellon Corp lifted its stake in Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock valued at $49,211,000 after purchasing an additional 97,950 shares during the last quarter. Institutional investors own 44.16% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BSY. Robert W. Baird cut their price objective on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. UBS Group started coverage on Bentley Systems in a report on Monday, March 31st. They set a "neutral" rating and a $48.00 target price for the company. Oppenheimer raised Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a research note on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group downgraded shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.67.

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Bentley Systems Stock Up 0.7 %

Shares of NASDAQ BSY traded up $0.30 during mid-day trading on Friday, reaching $41.90. The company had a trading volume of 1,544,930 shares, compared to its average volume of 1,275,628. The stock has a fifty day moving average of $43.04 and a two-hundred day moving average of $46.40. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $57.19. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 3.52 and a beta of 1.06. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is 38.36%.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was 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 directly owns 16,703,876 shares of the company's stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.12% of the stock is currently owned by corporate insiders.

Bentley Systems 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.