NewEdge Wealth LLC Has $5.74 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

NewEdge Wealth LLC reduced its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,813 shares of the company’s stock after selling 2,068 shares during the period. NewEdge Wealth LLC’s holdings in Bentley Systems were worth $5,735,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BSY. Point72 Hong Kong Ltd acquired a new stake in Bentley Systems during the 3rd quarter worth about $30,000. Tobam acquired a new stake in Bentley Systems during the 4th quarter worth about $55,000. Anchor Investment Management LLC acquired a new stake in Bentley Systems during the 3rd quarter worth about $110,000. IFP Advisors Inc grew its holdings in 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 acquiring an additional 4,581 shares during the period. Finally, Quest Partners LLC acquired a new stake in Bentley Systems during the 3rd quarter worth about $221,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is owned by insiders.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $44.04 on Friday. Bentley Systems, Incorporated has a fifty-two week low of $43.75 and a fifty-two week high of $57.19. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.52 and a beta of 1.03. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The firm’s 50-day simple moving average is $46.54 and its 200 day simple moving average is $48.33.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be given a $0.07 dividend. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.28 annualized dividend and a yield of 0.64%. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Analysts Set New Price Targets

BSY has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Robert W. Baird cut their price objective 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. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.