Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 98.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 418,294 shares of the company's stock after selling 35,022,368 shares during the period. Nuveen Asset Management LLC owned 0.14% of Bentley Systems worth $19,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BSY. Private Trust Co. NA grew its stake in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after buying an additional 378 shares during the last quarter. Tobam purchased a new position in Bentley Systems during the 4th quarter worth approximately $55,000. Atala Financial Inc purchased a new position in Bentley Systems during the 4th quarter worth approximately $55,000. Tortoise Investment Management LLC grew its stake in Bentley Systems by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock worth $78,000 after buying an additional 728 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Bentley Systems by 42.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock worth $78,000 after buying an additional 495 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group raised their price target on Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Rosenblatt Securities dropped their price target on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Mizuho lowered their target price on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Robert W. Baird lowered their target price on 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. lowered their target price on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.00.

Insider Activity at Bentley Systems

In related news, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the transaction, the executive now directly owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 20.56% of the company's stock.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $0.92 during trading on Tuesday, reaching $48.34. The company's stock had a trading volume of 1,415,779 shares, compared to its average volume of 1,202,791. 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 $36.51 and a 12-month high of $53.47. The company has a market capitalization of $14.11 billion, a P/E ratio of 43.55, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. The business has a 50 day moving average price of $43.51 and a 200-day moving average price of $45.43.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. During the same period in the previous year, the business earned $0.31 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd will be paid a $0.07 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.58%. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.

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.