Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,917 shares of the company’s stock after selling 8,182 shares during the period. Victory Capital Management Inc.’s holdings in Bentley Systems were worth $4,059,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Bentley Systems by 1.5% in the 4th 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 during the period. Plato Investment Management Ltd purchased a new stake in Bentley Systems in the 4th quarter worth approximately $447,000. Norden Group LLC grew its stake in Bentley Systems by 8.3% in the 4th quarter. Norden Group LLC now owns 6,250 shares of the company’s stock worth $292,000 after acquiring an additional 479 shares during the period. Fisher Asset Management LLC purchased a new stake in Bentley Systems in the 4th quarter worth approximately $6,737,000. Finally, Private Trust Co. NA grew its stake in Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after acquiring an additional 378 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Up 3.3 %

Shares of Bentley Systems stock opened at $41.44 on Friday. The company has a fifty day moving average price of $45.37 and a 200 day moving average price of $47.71. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a twelve month low of $39.98 and a twelve month high of $57.19. The stock has a market cap of $12.08 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s payout ratio is currently 38.36%.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following 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 document filed with the SEC, which can be accessed through this hyperlink. 21.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BSY has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

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.