Bleakley Financial Group LLC Lowers Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Bleakley Financial Group LLC decreased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,178 shares of the company’s stock after selling 294 shares during the period. Bleakley Financial Group LLC’s holdings in Bentley Systems were worth $242,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of Bentley Systems during the 3rd quarter valued at $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Bentley Systems by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $61,000 after buying an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Bentley Systems by 71.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company’s stock valued at $107,000 after acquiring an additional 880 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Bentley Systems in the third quarter valued at about $110,000. Finally, Blue Trust Inc. increased its holdings 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 purchasing an additional 1,996 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 16,703,876 shares in the company, valued at $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 SEC, which is available at this hyperlink. 21.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler decreased their price target 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. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Bentley Systems has an average rating of “Moderate Buy” and an average target price of $57.00.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $46.08 on Thursday. The firm has a market capitalization of $13.40 billion, a PE ratio of 41.51, a PEG ratio of 3.50 and a beta of 1.03. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm’s fifty day simple moving average is $47.03 and its 200 day simple moving average is $48.45.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

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.