Bentley Systems, Incorporated (NASDAQ:BSY) Stake Lessened by AGF Management Ltd.

AGF Management Ltd. lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 15.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,348 shares of the company’s stock after selling 41,241 shares during the quarter. AGF Management Ltd.’s holdings in Bentley Systems were worth $10,430,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BSY. Point72 Hong Kong Ltd acquired a new position in Bentley Systems during the 3rd quarter valued at approximately $30,000. Private Trust Co. NA increased its position in shares of 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. Tobam bought a new stake in Bentley Systems in the fourth quarter worth about $55,000. Tortoise Investment Management LLC boosted its holdings 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 in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in shares of Bentley Systems during the 3rd quarter worth $110,000. 44.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price 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. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Piper Sandler reduced their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Oppenheimer lowered Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average target price of $56.14.

Insider Buying and Selling

In other 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 value of $53,372.16. Following the completion of the transaction, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is owned by insiders.

Bentley Systems Trading Up 0.9 %

Shares of BSY opened at $41.52 on Wednesday. Bentley Systems, Incorporated has a 12-month low of $40.78 and a 12-month high of $57.19. The stock’s fifty day simple moving average is $45.73 and its 200-day simple moving average is $47.91. 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 has a market capitalization of $12.11 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This is a boost 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%. Bentley Systems’s dividend payout ratio is 38.36%.

Bentley Systems Company 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.