IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 23.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,285 shares of the company’s stock after selling 5,593 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Bentley Systems were worth $854,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems during the third quarter worth approximately $30,000. Private Trust Co. NA grew its holdings in shares of Bentley Systems by 61.1% during 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 during the last quarter. Tobam purchased a new position in Bentley Systems in the 4th quarter worth $55,000. Atala Financial Inc bought a new stake in Bentley Systems in the fourth quarter worth $55,000. Finally, Tortoise Investment Management LLC boosted its position in Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after buying an additional 728 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BSY shares. Piper Sandler decreased their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird lowered their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price target for the stock from $51.00 to $42.00 in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Bentley Systems Trading Down 4.3 %

NASDAQ:BSY opened at $40.36 on Friday. The company has a 50-day moving average price of $44.58 and a 200-day moving average price of $47.22. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 3.52 and a beta of 1.04. 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, Incorporated has a 12 month low of $39.98 and a 12 month high of $57.19.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.69%. Bentley Systems’s dividend payout ratio (DPR) is 38.36%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.12% of the company’s stock.

Bentley Systems Company 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.