Empire Life Investments Inc. Has $10.99 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Empire Life Investments Inc. cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 6.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 235,397 shares of the company’s stock after selling 16,668 shares during the quarter. Empire Life Investments Inc.’s holdings in Bentley Systems were worth $10,993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BSY. Swedbank AB grew its position in shares of Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after purchasing an additional 1,000,000 shares during the period. Net Worth Advisory Group acquired a new position in Bentley Systems during the 3rd quarter worth approximately $257,000. Blue Trust Inc. boosted its position in Bentley Systems by 291.0% during the 3rd quarter. Blue Trust Inc. now owns 2,682 shares of the company’s stock worth $132,000 after acquiring an additional 1,996 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Bentley Systems by 71.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company’s stock worth $107,000 after acquiring an additional 880 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its position in Bentley Systems by 60.9% during the 3rd quarter. Copeland Capital Management LLC now owns 683,962 shares of the company’s stock worth $34,752,000 after acquiring an additional 258,992 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction 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 owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.12% of the company’s stock.

Bentley Systems Trading Up 1.2 %

Shares of Bentley Systems stock opened at $47.25 on Friday. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The stock has a market cap of $13.74 billion, a P/E ratio of 42.57, a P/E/G ratio of 3.50 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average is $46.84 and its 200-day moving average is $48.41.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is currently 21.62%.

Analysts Set New Price Targets

BSY has been the subject of a number of recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. initiated coverage on Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Piper Sandler reduced their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.00.

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.