Clearbridge Investments LLC Trims Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Clearbridge Investments LLC reduced its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 13.8% during the 4th quarter, HoldingsChannel reports. The firm owned 735,318 shares of the company’s stock after selling 117,524 shares during the period. Clearbridge Investments LLC’s holdings in Bentley Systems were worth $34,339,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems during the third quarter worth $30,000. Private Trust Co. NA lifted its stake in shares of 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 acquiring an additional 378 shares during the period. Tobam purchased a new stake in shares of Bentley Systems in the fourth quarter valued at about $55,000. Atala Financial Inc purchased a new stake in shares of Bentley Systems in the fourth quarter valued at about $55,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Bentley Systems by 42.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company’s stock worth $78,000 after acquiring an additional 495 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BSY. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $51.00 to $42.00 in a report on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. Piper Sandler lowered their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, UBS Group initiated coverage on shares of Bentley Systems in a research note on Monday. They issued a “neutral” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.13.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value 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. The trade was a 0.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Bentley Systems stock opened at $40.49 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm’s 50-day simple moving average is $44.23 and its 200 day simple moving average is $47.03. Bentley Systems, Incorporated has a 52 week low of $38.66 and a 52 week high of $57.19. The firm has a market capitalization of $11.81 billion, a PE ratio of 36.48, a P/E/G ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. Bentley Systems’s dividend payout ratio is currently 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.