Bentley Systems, Incorporated (NASDAQ:BSY) Stake Lessened by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,809 shares of the company’s stock after selling 3,015 shares during the period. TD Private Client Wealth LLC’s holdings in Bentley Systems were worth $2,700,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of Bentley Systems by 36.5% during the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after purchasing an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after purchasing an additional 736,369 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after purchasing an additional 97,950 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bentley Systems by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after purchasing an additional 15,372 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Bentley Systems by 13.2% during the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock valued at $44,517,000 after purchasing an additional 111,433 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Trading Up 0.7 %

Bentley Systems stock opened at $41.94 on Friday. The company’s fifty day simple moving average is $44.92 and its 200-day simple moving average is $47.41. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 12 month low of $39.98 and a 12 month high of $57.19. The stock has a market cap of $12.23 billion, a P/E ratio of 37.78, a P/E/G 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 issued a dividend of $0.07 per share. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s payout ratio is currently 38.36%.

Insider Activity

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BSY has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. 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 lowered their price objective 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. Piper Sandler lowered 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. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.14.

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.