Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,737 shares of the company’s stock after selling 6,867 shares during the period. Truist Financial Corp owned about 0.06% of Bentley Systems worth $8,160,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BSY. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems in the third quarter worth approximately $30,000. Tobam purchased a new position in shares of Bentley Systems in the fourth quarter worth approximately $55,000. Anchor Investment Management LLC purchased a new position in shares of Bentley Systems in the third quarter worth approximately $110,000. Blue Trust Inc. increased its position in shares of Bentley Systems by 291.0% in the third quarter. Blue Trust Inc. now owns 2,682 shares of the company’s stock worth $132,000 after acquiring an additional 1,996 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Bentley Systems during the third quarter worth approximately $221,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ BSY opened at $45.59 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $13.25 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The company has a 50 day moving average price of $46.75 and a two-hundred day moving average price of $48.41. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19.

Analysts Set New Price Targets

Several analysts recently commented on BSY shares. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a report 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 report on Wednesday, January 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Insider Buying and Selling at Bentley Systems

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

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.