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

Gotham Asset Management LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,377 shares of the company's stock after selling 10,476 shares during the period. Gotham Asset Management LLC's holdings in Bentley Systems were worth $1,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock valued at $49,161,000 after purchasing an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Bentley Systems during the fourth quarter worth $809,000. Principal Financial Group Inc. grew its stake in shares of Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock valued at $10,396,000 after buying an additional 34,871 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bentley Systems by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock valued at $49,211,000 after buying an additional 97,950 shares during the period. Finally, Fiera Capital Corp lifted its stake in Bentley Systems by 13.2% during the 4th quarter. Fiera Capital Corp now owns 953,246 shares of the company's stock worth $44,517,000 after acquiring an additional 111,433 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bentley Systems

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now directly owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 20.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BSY shares. Oppenheimer lifted their target price on Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Mizuho decreased their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Rosenblatt Securities cut their price objective on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Robert W. Baird decreased their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Bentley Systems currently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Bentley Systems Stock Down 0.1%

BSY stock traded down $0.04 during trading on Tuesday, hitting $48.06. 1,410,310 shares of the company's stock were exchanged, compared to its average volume of 1,217,356. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The business has a 50-day moving average price of $42.91 and a two-hundred day moving average price of $45.50. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 3.52 and a beta of 1.05.

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

Bentley Systems Increases Dividend

The company also recently announced 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 was Wednesday, March 19th. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.58%. Bentley Systems's dividend payout ratio is 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.