Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Capital Research Global Investors

Capital Research Global Investors decreased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 681,446 shares of the company’s stock after selling 6,032 shares during the period. Capital Research Global Investors’ holdings in Bentley Systems were worth $31,824,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Swedbank AB raised its holdings 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 purchasing an additional 1,873,029 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Bentley Systems by 0.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock valued at $262,209,000 after buying an additional 24,019 shares during the period. Impax Asset Management Group plc boosted its stake 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 buying an additional 736,369 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock worth $49,211,000 after acquiring an additional 97,950 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock worth $49,161,000 after acquiring an additional 15,372 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BSY. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Oppenheimer raised Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Thursday, April 10th. KeyCorp cut their target price on Bentley Systems from $63.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Finally, Mizuho reduced their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $52.70.

Bentley Systems Price Performance

Shares of BSY opened at $42.41 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 3.52 and a beta of 1.06. The business’s 50-day moving average is $42.63 and its 200-day moving average is $46.08. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $57.19.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were given a $0.07 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Activity

In related news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is currently owned by corporate insiders.

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.