Bentley Systems, Incorporated (NASDAQ:BSY) Stake Lowered by AlphaQuest LLC

AlphaQuest LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 86.2% in the 4th quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in Bentley Systems by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after buying an additional 378 shares in the last quarter. Private Trust Co. NA grew its holdings 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 buying an additional 378 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Bentley Systems by 4.3% in the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after buying an additional 380 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Bentley Systems by 5.4% in the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $427,000 after buying an additional 467 shares in the last quarter. Finally, Norden Group LLC grew its holdings 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 buying an additional 479 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. Piper Sandler cut 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. The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and cut their target price for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. began 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. Finally, Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now owns 16,703,876 shares in the company, valued at $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 is available at this link. Insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $41.94 on Friday. Bentley Systems, Incorporated has a one year low of $39.98 and a one year high of $57.19. The stock has a fifty day moving average of $44.92 and a 200-day moving average of $47.41. The company has a market capitalization of $12.23 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is 38.36%.

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.