Legal & General Group Plc Sells 307,624 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Legal & General Group Plc lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 34.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 596,205 shares of the company's stock after selling 307,624 shares during the quarter. Legal & General Group Plc owned 0.21% of Bentley Systems worth $27,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BSY. Swedbank AB lifted its holdings in shares of Bentley Systems by 36.5% during the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company's stock worth $327,242,000 after purchasing an additional 1,873,029 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock valued at $262,209,000 after buying an additional 24,019 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of Bentley Systems by 41.9% in the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock valued at $115,719,000 after buying an additional 736,369 shares during the period. Bank of New York Mellon Corp raised its position in shares of Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock worth $49,211,000 after acquiring an additional 97,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock valued at $49,161,000 after acquiring an additional 15,372 shares during the last quarter. Institutional investors own 44.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BSY. Robert W. Baird dropped their price target on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. Mizuho dropped their price target on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Bentley Systems presently has an average rating of "Moderate Buy" and an average target price of $52.70.

Bentley Systems Stock Down 0.4 %

NASDAQ BSY traded down $0.17 during trading hours on Friday, hitting $43.19. The company's stock had a trading volume of 1,926,511 shares, compared to its average volume of 1,263,769. The company has a market capitalization of $12.59 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. 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 company's 50-day simple moving average is $42.77 and its two-hundred day simple moving average is $46.22.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were given a dividend of $0.07 per share. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.65%. Bentley Systems's payout ratio is presently 38.36%.

Insider Activity at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.12% of the stock is currently owned by insiders.

About Bentley Systems

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.