Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 74,326 shares of the company’s stock after selling 3,054 shares during the period. Sanctuary Advisors LLC’s holdings in Bentley Systems were worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in BSY. International Assets Investment Management LLC bought a new position in shares of Bentley Systems during the third quarter valued at approximately $59,400,000. Principal Financial Group Inc. grew its stake in Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after buying an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management acquired a new stake in Bentley Systems in the fourth quarter worth $8,413,000. Needham Investment Management LLC bought a new stake in Bentley Systems in the third quarter valued at $2,134,000. Finally, Mirabella Financial Services LLP boosted its holdings in shares of Bentley Systems by 1,155.0% during the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after acquiring an additional 92,768 shares during the period. Institutional investors own 44.16% of the company’s stock.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction dated 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 owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 21.12% of the company’s stock.

Bentley Systems Stock Down 2.0 %

BSY stock opened at $45.59 on Friday. The firm’s 50-day moving average is $46.75 and its two-hundred day moving average is $48.41. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 41.07, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. initiated coverage on Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

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.