Cibc World Markets Corp Has $338,000 Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Cibc World Markets Corp cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 21.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,233 shares of the company’s stock after selling 2,012 shares during the quarter. Cibc World Markets Corp’s holdings in Bentley Systems were worth $338,000 as of its most recent SEC filing.

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

Bentley Systems Price Performance

BSY stock opened at $42.66 on Tuesday. The company has a market capitalization of $12.44 billion, a P/E ratio of 38.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. 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 52-week low of $39.98 and a 52-week high of $57.19. The business has a 50-day simple moving average of $44.87 and a two-hundred day simple moving average of $47.35.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s payout ratio is currently 38.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BSY shares. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Piper Sandler dropped 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. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $51.00 to $42.00 in a report on Friday, February 28th. Finally, 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 research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction 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 transaction, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is 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.