Commonwealth Equity Services LLC Decreases Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Commonwealth Equity Services LLC lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,625 shares of the company’s stock after selling 6,312 shares during the period. Commonwealth Equity Services LLC’s holdings in Bentley Systems were worth $1,337,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BSY. Impact Capital Partners LLC bought a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $782,000. Skandinaviska Enskilda Banken AB publ lifted its position in Bentley Systems by 591.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock worth $26,446,000 after buying an additional 475,361 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Bentley Systems by 3.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after buying an additional 317 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock worth $78,000 after buying an additional 728 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in Bentley Systems by 16.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 81,863 shares of the company’s stock valued at $3,823,000 after acquiring an additional 11,560 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Down 1.6 %

Shares of NASDAQ:BSY opened at $39.70 on Monday. The business’s 50 day moving average is $44.46 and its 200 day moving average is $47.16. The stock has a market cap of $11.58 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a 52-week low of $39.58 and a 52-week high of $57.19. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.71%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio (DPR) is currently 38.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BSY shares. The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Piper Sandler dropped their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird cut their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Insider Activity at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is currently owned by corporate insiders.

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.