Clearbridge Investments LLC Reduces Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Clearbridge Investments LLC decreased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 735,318 shares of the company’s stock after selling 117,524 shares during the quarter. Clearbridge Investments LLC owned about 0.25% of Bentley Systems worth $34,339,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSY. Captrust Financial Advisors boosted its position in shares of Bentley Systems by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 22,980 shares of the company’s stock valued at $1,168,000 after acquiring an additional 971 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems in the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bentley Systems in the 3rd quarter valued at $369,000. Holocene Advisors LP lifted its stake in Bentley Systems by 356.1% during the 3rd quarter. Holocene Advisors LP now owns 126,766 shares of the company’s stock worth $6,441,000 after acquiring an additional 98,971 shares in the last quarter. Finally, Investment Management Corp of Ontario purchased a new position in Bentley Systems during the 3rd quarter valued at about $268,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.12% of the stock is owned by company insiders.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $40.49 on Wednesday. Bentley Systems, Incorporated has a 12 month low of $38.66 and a 12 month high of $57.19. 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 $11.81 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The business’s fifty day moving average price is $44.23 and its 200 day moving average price is $47.03.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio (DPR) is 38.36%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BSY. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Robert W. Baird decreased their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. started coverage on Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and decreased their target price for the company from $51.00 to $42.00 in a report on Friday, February 28th. Finally, UBS Group assumed coverage on Bentley Systems in a research note on Monday. They set a “neutral” rating and a $48.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Bentley Systems has a consensus rating of “Hold” and a consensus target price of $55.13.

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.