Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 81.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,678 shares of the company's stock after selling 165,934 shares during the quarter. Principal Financial Group Inc.'s holdings in Bentley Systems were worth $1,806,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems in the 3rd quarter valued at $30,000. Tobam purchased a new position in shares of Bentley Systems in the 4th quarter valued at $55,000. Anchor Investment Management LLC purchased a new position in shares of Bentley Systems in the 3rd quarter valued at $110,000. Quest Partners LLC purchased a new position in shares of Bentley Systems in the 3rd quarter valued at $221,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Bentley Systems in the 3rd quarter valued at $237,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

BSY has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a research 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 report on Friday, February 28th. Piper Sandler lowered their target price on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Oppenheimer lowered shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. Finally, Robert W. Baird lowered 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 report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.14.

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Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $0.01 during trading on Friday, reaching $43.02. The company's stock had a trading volume of 1,222,729 shares, compared to its average volume of 1,285,382. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 12-month low of $41.84 and a 12-month high of $57.19. The company has a market capitalization of $12.54 billion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The business has a 50 day moving average price of $45.96 and a 200-day moving average price of $48.04.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, March 19th. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. Bentley Systems's payout ratio is 38.36%.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 21.12% of the company's stock.

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.