Bentley Systems, Incorporated (NASDAQ:BSY) Stock Position Decreased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 60.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 713 shares of the company’s stock after selling 1,093 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bentley Systems were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB raised its holdings in shares of 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 acquiring an additional 1,873,029 shares in the last quarter. Impax Asset Management Group plc purchased a new stake in shares of Bentley Systems during the third quarter worth $88,771,000. Fiera Capital Corp bought a new position in Bentley Systems during the third quarter valued at about $42,773,000. Copeland Capital Management LLC raised its holdings in Bentley Systems by 60.9% during the third quarter. Copeland Capital Management LLC now owns 683,962 shares of the company’s stock valued at $34,752,000 after buying an additional 258,992 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in Bentley Systems during the third quarter valued at about $10,501,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of BSY stock opened at $47.25 on Friday. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 42.57, a price-to-earnings-growth 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. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The firm has a fifty day moving average of $46.84 and a 200-day moving average of $48.41.

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 issued a $0.06 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.51%. Bentley Systems’s dividend payout ratio is currently 21.62%.

Wall Street Analyst Weigh In

BSY has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. Piper Sandler cut 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, JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Insider Buying and Selling at Bentley Systems

In other 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 21.12% of the company’s stock.

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.