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

Vanguard Group Inc. lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,101,741 shares of the company’s stock after selling 243,933 shares during the quarter. Vanguard Group Inc. owned about 5.88% of Bentley Systems worth $798,651,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and cut their price objective for the company from $51.00 to $42.00 in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. Robert W. Baird cut their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.14.

Bentley Systems Stock Performance

Bentley Systems stock opened at $39.70 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $11.58 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a fifty-two week low of $39.58 and a fifty-two week high of $57.19. The firm’s 50 day simple moving average is $44.46 and its 200-day simple moving average is $47.17.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.12% of the stock is currently owned by 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.