17,334 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,334 shares of the company’s stock, valued at approximately $809,000.

Several other institutional investors have also recently made changes to their positions in the business. Private Trust Co. NA raised its holdings in shares of Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after buying an additional 380 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Bentley Systems by 5.4% in the fourth quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock valued at $427,000 after buying an additional 467 shares in the last quarter. Norden Group LLC increased its holdings in Bentley Systems by 8.3% in the fourth quarter. Norden Group LLC now owns 6,250 shares of the company’s stock valued at $292,000 after buying an additional 479 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Bentley Systems in the third quarter valued at $30,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value 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 represents a 0.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BSY shares. Robert W. Baird cut their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price objective for the company from $51.00 to $42.00 in a report on Friday, February 28th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating 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 target price for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price 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 assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $41.94 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 3.52 and a beta of 1.04. The company’s 50-day moving average is $44.92 and its two-hundred day moving average is $47.40. Bentley Systems, Incorporated has a 1-year low of $39.98 and a 1-year high of $57.19.

Bentley Systems Increases Dividend

The company also recently announced 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. This represents a $0.28 annualized dividend and a yield of 0.67%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s payout ratio is presently 38.36%.

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.