TD Private Client Wealth LLC Reduces Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

TD Private Client Wealth LLC decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,809 shares of the company’s stock after selling 3,015 shares during the period. TD Private Client Wealth LLC’s holdings in Bentley Systems were worth $2,700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems in the 3rd quarter valued at about $30,000. Private Trust Co. NA raised its stake 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 valued at $47,000 after purchasing an additional 378 shares in the last quarter. Tobam acquired a new stake in shares of Bentley Systems in the 4th quarter valued at about $55,000. Atala Financial Inc acquired a new stake in shares of Bentley Systems in the 4th quarter valued at about $55,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after purchasing an additional 728 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ BSY opened at $41.94 on Friday. Bentley Systems, Incorporated has a 52 week low of $39.98 and a 52 week 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 market cap of $12.23 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The company has a 50-day moving average price of $44.92 and a two-hundred day moving average price of $47.41.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 0.67%. Bentley Systems’s dividend payout ratio is 38.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BSY. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. Robert W. Baird dropped 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 note on Thursday, February 27th. Finally, The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price objective 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 assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 21.12% of the stock is 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.