Empire Life Investments Inc. Has $10.99 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Empire Life Investments Inc. lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 235,397 shares of the company’s stock after selling 16,668 shares during the period. Empire Life Investments Inc. owned 0.08% of Bentley Systems worth $10,993,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BSY. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems in the third quarter valued at approximately $30,000. Tobam bought a new position in shares of Bentley Systems during the fourth quarter valued at $55,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Bentley Systems by 71.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company’s stock valued at $107,000 after buying an additional 880 shares during the last quarter. Anchor Investment Management LLC bought a new position in shares of Bentley Systems in the third quarter valued at about $110,000. Finally, Blue Trust Inc. raised its holdings 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 valued at $132,000 after buying an additional 1,996 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BSY. JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Finally, Piper Sandler dropped their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction 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 approximately $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $47.25 on Friday. The stock has a market capitalization of $13.74 billion, a P/E ratio of 42.57, a P/E/G ratio of 3.50 and a beta of 1.03. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The business has a 50-day moving average price of $46.84 and a two-hundred day moving average price of $48.41. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. Bentley Systems’s payout ratio is currently 21.62%.

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.