Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,523 shares of the company’s stock after selling 281 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bentley Systems were worth $3,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC lifted its holdings in shares of Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after buying an additional 254 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Bentley Systems by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock valued at $469,000 after acquiring an additional 317 shares during the last quarter. Private Trust Co. NA lifted its holdings in Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after acquiring an additional 378 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Bentley Systems by 4.3% during the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after purchasing an additional 380 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Bentley Systems by 5.4% in the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $427,000 after purchasing an additional 467 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BSY has been the subject of a number of research reports. UBS Group assumed coverage on shares of Bentley Systems in a report on Monday. They set a “neutral” rating and a $48.00 target price for the company. JPMorgan Chase & Co. began coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Piper Sandler cut their target price on 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 Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $51.00 to $42.00 in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Hold” and an average price target of $55.13.

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 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 of the company’s stock, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.12% of the stock is currently owned by corporate insiders.

Bentley Systems Stock Performance

Shares of BSY opened at $39.34 on Tuesday. Bentley Systems, Incorporated has a 52 week low of $38.66 and a 52 week high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $11.47 billion, a PE ratio of 35.44, a PEG ratio of 3.52 and a beta of 1.04. The company’s 50 day moving average price is $44.34 and its 200 day moving average price is $47.09.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a $0.07 dividend. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.71%. Bentley Systems’s payout ratio is presently 38.36%.

About Bentley Systems

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.