Bridgewater Associates LP Sells 96,395 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bridgewater Associates LP reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 460,289 shares of the company’s stock after selling 96,395 shares during the quarter. Bridgewater Associates LP’s holdings in Bentley Systems were worth $21,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BSY. Private Trust Co. NA boosted its holdings in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares during the period. Tobam bought a new stake in Bentley Systems in the fourth quarter worth $55,000. Atala Financial Inc purchased a new position in Bentley Systems during the fourth quarter worth $55,000. CIBC Private Wealth Group LLC boosted its stake in Bentley Systems by 42.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company’s stock worth $78,000 after buying an additional 495 shares during the period. Finally, Tortoise Investment Management LLC increased its position in Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after acquiring an additional 728 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Price Performance

Shares of BSY stock opened at $42.62 on Wednesday. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a fifty day simple moving average of $42.88 and a two-hundred day simple moving average of $46.29. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 38.40, a P/E/G ratio of 3.52 and a beta of 1.06.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 yield of 0.66%. Bentley Systems’s dividend payout ratio is 38.36%.

Wall Street Analyst Weigh In

A number of research firms recently commented 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 for the company in a research note on Thursday, February 27th. 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. UBS Group started 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. JPMorgan Chase & Co. dropped their price objective on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group lowered 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 research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.56.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.12% of the company’s stock.

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.