Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,326 shares of the company’s stock after selling 3,054 shares during the period. Sanctuary Advisors LLC’s holdings in Bentley Systems were worth $3,413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB raised its holdings in Bentley Systems by 36.5% in the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after buying an additional 1,873,029 shares during the period. Impax Asset Management Group plc purchased a new position in shares of Bentley Systems in the 3rd quarter valued at $88,771,000. TimesSquare Capital Management LLC raised its stake in shares of Bentley Systems by 3.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company’s stock valued at $58,998,000 after acquiring an additional 39,205 shares during the period. Fiera Capital Corp lifted its holdings in shares of Bentley Systems by 13.2% during the 4th quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock valued at $44,517,000 after acquiring an additional 111,433 shares in the last quarter. Finally, Bridgewater Associates LP boosted its position in Bentley Systems by 6.4% during the 3rd quarter. Bridgewater Associates LP now owns 556,684 shares of the company’s stock worth $28,285,000 after purchasing an additional 33,344 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BSY shares. JPMorgan Chase & Co. began coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective on the stock. Piper Sandler reduced their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction dated 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 sale, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is owned by company insiders.

Bentley Systems Trading Down 2.0 %

NASDAQ:BSY opened at $45.59 on Friday. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 41.07, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. 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 business’s 50-day simple moving average is $46.75 and its 200 day simple moving average is $48.41.

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.