Vestcor Inc Has $95,000 Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Vestcor Inc lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 54.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,042 shares of the company’s stock after selling 2,435 shares during the quarter. Vestcor Inc’s holdings in Bentley Systems were worth $95,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Swedbank AB grew its position in Bentley Systems by 36.5% during the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after purchasing an additional 1,873,029 shares in the last quarter. Impax Asset Management Group plc grew its position in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after purchasing an additional 736,369 shares in the last quarter. Weiss Asset Management LP purchased a new position in Bentley Systems during the third quarter valued at approximately $10,501,000. Bar Harbor Wealth Management purchased a new position in Bentley Systems during the fourth quarter valued at approximately $8,413,000. Finally, Fisher Asset Management LLC purchased a new position in Bentley Systems during the fourth quarter valued at approximately $6,737,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BSY has been the topic of a number of research analyst reports. Piper Sandler lowered their price objective 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. assumed coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction 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 approximately $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.12% of the stock is owned by insiders.

Bentley Systems Price Performance

NASDAQ BSY opened at $41.94 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $45.20 and a 200 day simple moving average of $47.56. The company has a market cap of $12.23 billion, a P/E ratio of 37.78, a P/E/G ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a 1 year low of $39.98 and a 1 year high of $57.19.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s dividend payout ratio is currently 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.