NewEdge Wealth LLC Sells 2,068 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

NewEdge Wealth LLC lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 122,813 shares of the company’s stock after selling 2,068 shares during the quarter. NewEdge Wealth LLC’s holdings in Bentley Systems were worth $5,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Bentley Systems during the 3rd quarter worth approximately $30,000. Tobam purchased a new stake in shares of Bentley Systems during the 4th quarter worth approximately $55,000. Anchor Investment Management LLC purchased a new stake in shares of Bentley Systems during the 3rd quarter worth approximately $110,000. IFP Advisors Inc increased its stake in shares of Bentley Systems by 4,627.3% during the 4th quarter. IFP Advisors Inc now owns 4,680 shares of the company’s stock worth $220,000 after purchasing an additional 4,581 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Bentley Systems during the 3rd quarter worth approximately $221,000. Institutional investors own 44.16% of the company’s stock.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the transaction, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 21.12% of the company’s stock.

Bentley Systems Stock Down 1.3 %

BSY opened at $44.04 on Friday. The company has a fifty day moving average price of $46.54 and a 200-day moving average price of $48.33. The firm has a market capitalization of $12.80 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a one year low of $43.75 and a one year high of $57.19.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. 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 0.64%. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s payout ratio is 21.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSY. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Piper Sandler decreased their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird decreased their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $57.29.

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.