IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 5,593 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 23.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,285 shares of the company’s stock after selling 5,593 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Bentley Systems were worth $854,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new position in Bentley Systems in the third quarter worth about $30,000. Private Trust Co. NA boosted its position in shares of 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 buying an additional 378 shares during the last quarter. Tobam bought a new stake in Bentley Systems in the 4th quarter worth about $55,000. Atala Financial Inc purchased a new position in Bentley Systems in the 4th quarter worth about $55,000. Finally, Tortoise Investment Management LLC lifted its stake in Bentley Systems by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after acquiring an additional 728 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price target for the company from $51.00 to $42.00 in a report on Friday, February 28th. Robert W. Baird cut their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Bentley Systems has an average rating of “Moderate Buy” and an average target price of $56.14.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $40.36 on Friday. The stock has a 50-day simple moving average of $44.58 and a two-hundred day simple moving average of $47.22. 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 52-week low of $39.98 and a 52-week high of $57.19. The firm has a market capitalization of $11.77 billion, a PE ratio of 36.36, a P/E/G ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.69%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. Bentley Systems’s dividend payout ratio is currently 38.36%.

Insider Buying and Selling

In other Bentley Systems 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.12% of the stock is currently owned by insiders.

Bentley Systems Company 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.