Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 451,600 shares of the company’s stock after selling 19,300 shares during the quarter. Swiss National Bank owned 0.16% of Bentley Systems worth $21,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BSY. Point72 Hong Kong Ltd acquired a new position in Bentley Systems during the third quarter worth about $30,000. Private Trust Co. NA grew its position in 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 buying an additional 378 shares during the period. Tobam acquired a new position in Bentley Systems during the fourth quarter worth about $55,000. Tortoise Investment Management LLC grew its position 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, Anchor Investment Management LLC acquired a new position in Bentley Systems during the third quarter worth about $110,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were 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 approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY opened at $41.94 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The company 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 simple moving average is $45.20 and its 200 day simple moving average is $47.56. 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be paid a dividend of $0.07 per share. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. Bentley Systems’s dividend payout ratio is presently 38.36%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price target for the company from $51.00 to $42.00 in a report on Friday, February 28th. Finally, Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $56.14.

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.