Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Envestnet Portfolio Solutions Inc. lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,374 shares of the company’s stock after selling 2,287 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Bentley Systems were worth $1,745,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BSY. Swedbank AB boosted its position in Bentley Systems by 36.5% in the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock worth $327,242,000 after purchasing an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Bentley Systems by 41.9% in the 4th 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 last quarter. Bank of New York Mellon Corp grew its position in Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after buying an additional 97,950 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bentley Systems by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock worth $49,161,000 after buying an additional 15,372 shares during the last quarter. Finally, Fiera Capital Corp raised its position in Bentley Systems by 13.2% in the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock worth $44,517,000 after acquiring an additional 111,433 shares during the period. 44.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. Piper Sandler lowered their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price target for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Finally, Robert W. Baird decreased their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Bentley Systems Stock Performance

Shares of 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 stock’s 50-day simple moving average is $44.92 and its 200 day simple moving average is $47.41. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization 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.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction on Friday, January 24th. The stock was 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 owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.12% of the stock is owned by corporate insiders.

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.