Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,748 shares of the company's stock after selling 16,236 shares during the period. Rockefeller Capital Management L.P.'s holdings in Bentley Systems were worth $5,312,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Private Trust Co. NA boosted its holdings 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 purchasing an additional 378 shares during the last quarter. Tobam bought a new position in Bentley Systems during the fourth quarter valued at approximately $55,000. Atala Financial Inc purchased a new position in Bentley Systems during the 4th quarter valued at approximately $55,000. Tortoise Investment Management LLC increased its stake in Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock worth $78,000 after acquiring an additional 728 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Bentley Systems by 42.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock valued at $78,000 after acquiring an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Analyst Ratings Changes

BSY has been the topic of a number of recent research reports. KeyCorp decreased their price target on shares of Bentley Systems from $63.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. UBS Group initiated coverage on Bentley Systems in a research note on Monday, March 31st. They set a "neutral" rating and a $48.00 price objective on the stock. Piper Sandler lowered their price objective 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. Finally, The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and cut their target price for the company 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 issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.70.

Bentley Systems Stock Up 2.9 %

Bentley Systems stock traded up $1.25 during trading hours on Wednesday, reaching $44.55. The stock had a trading volume of 236,875 shares, compared to its average volume of 1,203,785. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 3.52 and a beta of 1.06. The business's 50 day moving average price is $42.56 and its 200-day moving average price is $46.06. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Wednesday, March 19th. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. 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 Bentley Systems stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, 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 link. 21.12% of the stock is currently owned by corporate insiders.

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.