Capital Research Global Investors Sells 6,032 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Capital Research Global Investors trimmed its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 681,446 shares of the company's stock after selling 6,032 shares during the quarter. Capital Research Global Investors owned about 0.23% of Bentley Systems worth $31,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BSY. 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 acquired a new position in shares of Bentley Systems during the 4th quarter valued at $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems during the 4th quarter valued at $55,000. CIBC Private Wealth Group LLC increased its position in shares of Bentley Systems by 42.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock valued at $78,000 after purchasing an additional 495 shares during the period. Finally, Tortoise Investment Management LLC increased its position in shares of Bentley Systems by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock valued at $78,000 after purchasing an additional 728 shares during the period. 44.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

BSY has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target 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. Robert W. Baird lowered their price target 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. UBS Group assumed 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. Piper Sandler reduced their price objective on 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 raised Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price objective for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.70.

Bentley Systems Stock Down 1.0 %

Shares of Bentley Systems stock traded down $0.46 during midday trading on Friday, hitting $43.44. The company's stock had a trading volume of 826,423 shares, compared to its average volume of 1,204,242. The firm has a market capitalization of $12.65 billion, a P/E ratio of 39.14, a PEG ratio of 3.52 and a beta of 1.06. The stock has a 50-day simple moving average of $42.33 and a 200-day simple moving average of $45.93. 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 1-year low of $36.51 and a 1-year high of $57.19.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, March 19th. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is 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.