Tredje AP fonden Trims Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Tredje AP fonden lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 50.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,118 shares of the company’s stock after selling 18,118 shares during the quarter. Tredje AP fonden’s holdings in Bentley Systems were worth $846,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BSY. EverSource Wealth Advisors LLC boosted its position in shares of Bentley Systems by 3.3% during 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. CIBC Asset Management Inc raised its stake in Bentley Systems by 4.3% in the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock valued at $468,000 after purchasing an additional 378 shares in the last quarter. Private Trust Co. NA lifted its position in Bentley Systems by 61.1% during the fourth 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. Venturi Wealth Management LLC grew its stake in Bentley Systems by 4.3% in the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after buying an additional 380 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings 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 buying an additional 467 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred 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 sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. Oppenheimer lowered Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Robert W. Baird dropped their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. 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 target on the stock. Finally, Piper Sandler lowered their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Stock Performance

Shares of BSY stock opened at $41.44 on Friday. 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 fifty-two week low of $39.98 and a fifty-two week high of $57.19. The company has a market capitalization of $12.08 billion, a P/E ratio of 37.33, a PEG ratio of 3.52 and a beta of 1.04. The stock has a 50 day moving average price of $45.37 and a two-hundred day moving average price of $47.71.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.28 annualized dividend and a yield of 0.68%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is presently 38.36%.

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.