Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 54.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,042 shares of the company’s stock after selling 2,435 shares during the period. Vestcor Inc’s holdings in Bentley Systems were worth $95,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Bentley Systems by 3.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock valued at $469,000 after purchasing an additional 317 shares during the period. CIBC Asset Management Inc boosted its stake in Bentley Systems by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock valued at $468,000 after purchasing an additional 378 shares during the period. Private Trust Co. NA boosted its stake in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after purchasing an additional 378 shares during the period. Venturi Wealth Management LLC boosted its stake in Bentley Systems by 4.3% during the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after purchasing an additional 380 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in Bentley Systems by 5.4% during the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock valued at $427,000 after purchasing an additional 467 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 1,152 shares of the business’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 sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.12% of the company’s stock.

Bentley Systems Stock Down 1.2 %

NASDAQ BSY opened at $41.94 on Wednesday. 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 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 12 month low of $39.98 and a 12 month high of $57.19. The company has a market capitalization of $12.23 billion, a P/E ratio of 37.78, a PEG ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be issued a $0.07 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s payout ratio is presently 38.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BSY shares. 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. Piper Sandler dropped 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 report on Wednesday, January 8th. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Robert W. Baird dropped their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

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.