Bleakley Financial Group LLC Sells 294 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bleakley Financial Group LLC cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,178 shares of the company’s stock after selling 294 shares during the quarter. Bleakley Financial Group LLC’s holdings in Bentley Systems were worth $242,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in shares of Bentley Systems during the third quarter valued at about $59,400,000. Principal Financial Group Inc. grew its stake in Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after buying an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management purchased a new position in Bentley Systems in the 4th quarter valued at approximately $8,413,000. Needham Investment Management LLC bought a new position in Bentley Systems in the 3rd quarter valued at $2,134,000. Finally, Mirabella Financial Services LLP lifted its holdings in shares of Bentley Systems by 1,155.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after acquiring an additional 92,768 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BSY. Piper Sandler decreased their price objective 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. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Insider Buying and Selling

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

Bentley Systems Stock Performance

BSY opened at $46.08 on Thursday. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 3.50 and a beta of 1.03. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The company has a fifty day moving average of $47.03 and a 200 day moving average of $48.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.52%. Bentley Systems’s dividend payout ratio is currently 21.62%.

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.