Bridgewater Associates LP Has $21.50 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Bridgewater Associates LP lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 17.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 460,289 shares of the company's stock after selling 96,395 shares during the period. Bridgewater Associates LP owned 0.16% of Bentley Systems worth $21,495,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Intech Investment Management LLC boosted its position in Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock valued at $340,000 after buying an additional 254 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Bentley Systems by 3.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock worth $469,000 after purchasing an additional 317 shares during the period. Prudential PLC raised its holdings in Bentley Systems by 0.6% during the 4th quarter. Prudential PLC now owns 63,008 shares of the company's stock worth $2,942,000 after purchasing an additional 371 shares during the last quarter. Private Trust Co. NA boosted 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 valued at $47,000 after purchasing an additional 378 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Bentley Systems by 4.3% during the 4th 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 period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the transaction, the director now directly owns 16,703,876 shares of the company's stock, 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 at this hyperlink. Corporate insiders own 21.12% of the company's stock.

Bentley Systems Stock Down 2.2 %

Shares of NASDAQ BSY traded down $0.95 during mid-day trading on Monday, reaching $42.24. 223,298 shares of the company's stock were exchanged, compared to its average volume of 1,204,875. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 3.52 and a beta of 1.06. The business has a fifty day simple moving average of $42.70 and a 200 day simple moving average of $46.12.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems's dividend payout ratio (DPR) is 38.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BSY. JPMorgan Chase & Co. reduced their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Oppenheimer upgraded Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a research report on Thursday, April 10th. UBS Group initiated coverage on Bentley Systems in a research note on Monday, March 31st. They set a "neutral" rating and a $48.00 price objective for the company. Mizuho reduced their target price on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler decreased their target price on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Bentley Systems presently has an average rating of "Moderate Buy" and an average target price of $52.70.

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.