Alliancebernstein L.P. Decreases Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Alliancebernstein L.P. trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 8.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,771,352 shares of the company’s stock after selling 250,580 shares during the quarter. Alliancebernstein L.P. owned approximately 0.95% of Bentley Systems worth $129,422,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Bentley Systems by 36.5% in 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 increased its stake in shares of Bentley Systems by 41.9% in the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after acquiring an additional 736,369 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Bentley Systems by 591.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock worth $26,446,000 after acquiring an additional 475,361 shares during the period. LBP AM SA acquired a new position in shares of Bentley Systems during the 4th quarter valued at about $13,591,000. Finally, Weiss Asset Management LP purchased a new stake in shares of Bentley Systems in the third quarter valued at about $10,501,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BSY. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. Piper Sandler decreased their target price 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. Robert W. Baird reduced 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 note on Thursday, February 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bentley Systems presently has a consensus rating of “Hold” and a consensus price target of $55.13.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was 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. This trade represents 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. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Stock Performance

NASDAQ BSY opened at $41.13 on Thursday. The business’s 50-day moving average price is $44.12 and its 200 day moving average price is $46.99. 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 cap of $11.99 billion, a P/E ratio of 37.05, a P/E/G ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a 52-week low of $38.66 and a 52-week high of $57.19.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.68%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio (DPR) is presently 38.36%.

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.