Stifel Financial Corp Sells 8,646 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Stifel Financial Corp cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 456,688 shares of the company's stock after selling 8,646 shares during the quarter. Stifel Financial Corp owned approximately 0.16% of Bentley Systems worth $21,327,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BSY. Anchor Investment Management LLC purchased a new position in shares of Bentley Systems in the third quarter valued at approximately $110,000. Tidal Investments LLC raised its stake in shares of Bentley Systems by 21.8% in the third quarter. Tidal Investments LLC now owns 7,169 shares of the company's stock valued at $364,000 after acquiring an additional 1,284 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock worth $10,396,000 after buying an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management purchased a new stake in shares of Bentley Systems during the 4th quarter worth $8,413,000. Finally, Park Avenue Securities LLC grew its stake in shares of Bentley Systems by 5.4% during the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company's stock valued at $427,000 after buying an additional 467 shares during the period. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BSY shares. The Goldman Sachs Group lowered Bentley Systems from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Piper Sandler reduced their target price on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Rosenblatt Securities restated a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. Robert W. Baird cut 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 note on Thursday, February 27th. Finally, UBS Group initiated coverage on Bentley Systems in a report on Monday, March 31st. They issued a "neutral" rating and a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.70.

Bentley Systems Stock Down 0.1 %

BSY stock traded down $0.03 during trading on Thursday, hitting $42.96. 220,314 shares of the stock traded hands, compared to its average volume of 1,387,079. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm's 50 day moving average is $42.12 and its two-hundred day moving average is $45.84.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This is a positive change 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 0.65%. Bentley Systems's payout ratio is currently 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.