Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 61.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,744 shares of the company’s stock after selling 92,192 shares during the quarter. Korea Investment CORP’s holdings in Bentley Systems were worth $2,650,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Swedbank AB increased 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 worth $327,242,000 after buying an additional 1,873,029 shares during the period. Impax Asset Management Group plc grew its position in shares of 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 worth $115,719,000 after acquiring an additional 736,369 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Bentley Systems by 591.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock valued at $26,446,000 after acquiring an additional 475,361 shares during the period. LBP AM SA purchased a new stake in Bentley Systems in the 4th quarter valued at $13,591,000. Finally, Weiss Asset Management LP acquired a new stake in Bentley Systems during the 3rd quarter worth $10,501,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Up 2.9 %

Shares of BSY stock opened at $40.49 on Wednesday. The business’s fifty day moving average price is $44.23 and its 200 day moving average price is $47.03. The firm has a market capitalization of $11.81 billion, a PE ratio of 36.48, a P/E/G ratio of 3.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a 1-year low of $38.66 and a 1-year high of $57.19.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.69%. Bentley Systems’s dividend payout ratio is 38.36%.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. Robert W. Baird reduced their price objective 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. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Piper Sandler cut their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.13.

Insider Activity

In related news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the sale, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 21.12% of the company’s stock.

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.