AlphaQuest LLC Lowers Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

AlphaQuest LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 86.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 601 shares of the company’s stock after selling 3,743 shares during the quarter. AlphaQuest LLC’s holdings in Bentley Systems were worth $28,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Swedbank AB lifted its stake 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 purchasing an additional 1,873,029 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after purchasing an additional 736,369 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock worth $49,211,000 after purchasing an additional 97,950 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Bentley Systems by 1.5% in the fourth 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 in the last quarter. Finally, Fiera Capital Corp lifted its stake in shares of Bentley Systems by 13.2% in the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock worth $44,517,000 after acquiring an additional 111,433 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BSY. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and cut their price target for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Robert W. Baird cut their price target 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. Piper Sandler cut their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.14.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the transaction, the director now directly owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.12% of the stock is currently owned by insiders.

Bentley Systems Trading Up 0.7 %

Shares of NASDAQ BSY opened at $41.94 on Friday. The stock’s 50 day moving average price is $44.92 and its two-hundred day moving average price is $47.41. Bentley Systems, Incorporated has a 52-week low of $39.98 and a 52-week high of $57.19. The stock has a market capitalization of $12.23 billion, a P/E ratio of 37.78, a PEG ratio of 3.52 and a beta of 1.04. 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.28 annualized dividend and a yield of 0.67%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is presently 38.36%.

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.