Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Clearline Capital LP

Clearline Capital LP cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 119,637 shares of the company’s stock after selling 28,063 shares during the period. Clearline Capital LP’s holdings in Bentley Systems were worth $5,587,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB lifted its stake in shares of 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 purchasing an additional 1,873,029 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Bentley Systems by 0.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after buying an additional 24,019 shares during the period. Impax Asset Management Group plc boosted its stake in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after buying an additional 736,369 shares during the period. AXA S.A. increased its position in shares of Bentley Systems by 7.6% during the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock valued at $74,867,000 after acquiring an additional 112,824 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Bentley Systems by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock worth $67,204,000 after acquiring an additional 228,502 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Trading Up 5.6 %

NASDAQ BSY opened at $46.24 on Thursday. The firm has a market cap of $14.02 billion, a PE ratio of 41.66, a P/E/G ratio of 3.52 and a beta of 1.05. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $57.19. The firm’s fifty day moving average is $42.03 and its two-hundred day moving average is $45.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.61%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s payout ratio is presently 38.36%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird cut their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Mizuho decreased their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler decreased their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued 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 target price of $51.80.

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.