Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by AGF Management Ltd.

AGF Management Ltd. decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 15.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,348 shares of the company’s stock after selling 41,241 shares during the quarter. AGF Management Ltd. owned 0.08% of Bentley Systems worth $10,430,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Swedbank AB raised its holdings in Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after acquiring an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc acquired a new position in Bentley Systems during the 3rd quarter worth $88,771,000. Weiss Asset Management LP acquired a new position in Bentley Systems during the 3rd quarter worth approximately $10,501,000. Bar Harbor Wealth Management acquired a new stake in shares of Bentley Systems during the 4th quarter worth about $8,413,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of Bentley Systems during the 4th quarter worth approximately $6,737,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is currently owned by insiders.

Bentley Systems Stock Up 0.9 %

Shares of NASDAQ:BSY opened at $41.52 on Wednesday. Bentley Systems, Incorporated has a 12-month low of $40.78 and a 12-month high of $57.19. The stock’s 50-day moving average price is $45.73 and its two-hundred day moving average price is $47.91. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 3.52 and a beta of 1.04. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s dividend payout ratio is presently 38.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BSY shares. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and decreased their target price for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Robert W. Baird cut their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Piper Sandler decreased 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. Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Company 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.