WR Wealth Planners LLC Sells 724 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

WR Wealth Planners LLC lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,942 shares of the company’s stock after selling 724 shares during the quarter. WR Wealth Planners LLC’s holdings in Bentley Systems were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its position in Bentley Systems by 4.3% during the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after purchasing an additional 378 shares during the period. Private Trust Co. NA boosted its position in Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after buying an additional 380 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Bentley Systems by 5.4% in the fourth quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $427,000 after buying an additional 467 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Bentley Systems in the third quarter worth about $30,000. Institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BSY has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $51.00 to $42.00 in a report on Friday. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Piper Sandler lowered their price target on shares of 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 target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Down 0.3 %

Shares of BSY opened at $43.90 on Friday. The firm’s 50 day simple moving average is $46.46 and its 200 day simple moving average is $48.30. The company has a market capitalization of $12.80 billion, a P/E ratio of 39.55, a P/E/G ratio of 3.52 and a beta of 1.03. 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, Incorporated has a 1-year low of $42.46 and a 1-year high of $57.19.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be paid a $0.07 dividend. 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 0.64%. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is currently 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.