Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 62.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,011 shares of the company’s stock after selling 1,671 shares during the period. Blue Trust Inc.’s holdings in Bentley Systems were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in Bentley Systems in the third quarter worth about $30,000. Tobam bought a new stake in shares of Bentley Systems during the 4th quarter worth about $55,000. Anchor Investment Management LLC acquired a new stake in shares of Bentley Systems in the 3rd quarter worth approximately $110,000. Quest Partners LLC bought a new position in shares of Bentley Systems in the third quarter valued at approximately $221,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Bentley Systems during the third quarter valued at approximately $237,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BSY shares. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. Piper Sandler cut their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $44.62 on Thursday. The stock’s fifty day simple moving average is $46.61 and its 200 day simple moving average is $48.36. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 3.52 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 52-week low of $43.82 and a 52-week high of $57.19.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems 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 in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.12% of the stock is currently owned by corporate insiders.

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.