Clearline Capital LP Reduces Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Clearline Capital LP lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 19.0% during the 4th quarter, Holdings Channel reports. The firm owned 119,637 shares of the company’s stock after selling 28,063 shares during the quarter. Clearline Capital LP’s holdings in Bentley Systems were worth $5,587,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Private Trust Co. NA raised its position 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 worth $47,000 after buying an additional 378 shares during the period. Tobam acquired a new stake in shares of Bentley Systems in the fourth quarter valued at about $55,000. Atala Financial Inc acquired a new position in Bentley Systems during the 4th quarter worth approximately $55,000. CIBC Private Wealth Group LLC grew its position in Bentley Systems by 42.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company’s stock valued at $78,000 after acquiring an additional 495 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its position in 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 buying an additional 728 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSY. Oppenheimer upgraded Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 10th. Rosenblatt Securities cut their price objective on Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut their target price on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. KeyCorp reduced their price objective on Bentley Systems from $63.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Mizuho decreased their target price on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.80.

Bentley Systems Stock Up 5.6 %

BSY stock opened at $46.24 on Thursday. The company’s 50 day simple moving average is $42.03 and its 200-day simple moving average is $45.63. The firm has a market capitalization of $14.02 billion, a P/E ratio of 41.66, a P/E/G ratio of 3.52 and a beta of 1.05. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.61%. Bentley Systems’s payout ratio is presently 38.36%.

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.