Bridgewater Associates LP Sells 96,395 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bridgewater Associates LP lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 17.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 460,289 shares of the company’s stock after selling 96,395 shares during the period. Bridgewater Associates LP owned approximately 0.16% of Bentley Systems worth $21,495,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC increased its position in Bentley Systems by 3.6% during the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after acquiring an additional 254 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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. Prudential PLC increased its position in shares of Bentley Systems by 0.6% during the 4th quarter. Prudential PLC now owns 63,008 shares of the company’s stock valued at $2,942,000 after purchasing an additional 371 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after buying an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred 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 sale, the director now owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BSY. UBS Group initiated coverage on shares of Bentley Systems in a research report on Monday, March 31st. They issued a “neutral” rating and a $48.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and cut their price target for the company from $51.00 to $42.00 in a report on Friday, February 28th. Robert W. Baird lowered their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.56.

Bentley Systems Trading Down 0.9 %

Bentley Systems stock opened at $42.62 on Wednesday. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $57.19. The firm’s 50 day moving average price is $42.88 and its 200-day moving average price is $46.29. 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 stock has a market cap of $12.43 billion, a P/E ratio of 38.40, a PEG ratio of 3.52 and a beta of 1.06.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were 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 yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems’s payout ratio is currently 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.