Forsta AP Fonden Decreases Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Forsta AP Fonden reduced its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 33.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 69,300 shares of the company’s stock after selling 35,000 shares during the period. Forsta AP Fonden’s holdings in Bentley Systems were worth $3,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in Bentley Systems by 117.5% during the fourth quarter. Pacer Advisors Inc. now owns 53,778 shares of the company’s stock worth $2,511,000 after acquiring an additional 29,053 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Bentley Systems by 147.2% during the 4th quarter. SG Americas Securities LLC now owns 69,904 shares of the company’s stock worth $3,265,000 after purchasing an additional 41,625 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Bentley Systems by 160.8% during the 4th quarter. Clear Harbor Asset Management LLC now owns 39,991 shares of the company’s stock worth $1,868,000 after purchasing an additional 24,656 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in Bentley Systems by 13.5% in the 4th quarter. Diversify Wealth Management LLC now owns 22,920 shares of the company’s stock valued at $1,051,000 after buying an additional 2,728 shares in the last quarter. Finally, Trium Capital LLP acquired a new stake in Bentley Systems during the 4th quarter valued at $334,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Trading Up 1.4 %

Shares of BSY stock opened at $46.55 on Friday. The firm’s 50-day simple moving average is $47.46 and its 200-day simple moving average is $48.58. 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 1-year low of $43.82 and a 1-year high of $57.19. The firm has a market cap of $13.53 billion, a P/E ratio of 41.94, a PEG ratio of 3.41 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same quarter last year, the firm posted $0.18 earnings per share. Bentley Systems’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Wall Street Analysts Forecast Growth

BSY has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. initiated 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 on the stock. Finally, Piper Sandler lowered their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $57.29.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.12% of the stock is currently owned by insiders.

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.