M&T Bank Corp Sells 3,687 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

M&T Bank Corp lessened its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 46,201 shares of the company’s stock after selling 3,687 shares during the period. M&T Bank Corp’s holdings in Bentley Systems were worth $2,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSY. CIBC Asset Management Inc grew its stake in Bentley Systems by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after buying an additional 378 shares in the last quarter. Private Trust Co. NA grew its stake in 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 in the last quarter. Venturi Wealth Management LLC grew its stake in Bentley Systems by 4.3% in the 4th 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 grew its stake in Bentley Systems by 5.4% in the 4th 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, Norden Group LLC grew its stake in Bentley Systems by 8.3% in the 4th quarter. Norden Group LLC now owns 6,250 shares of the company’s stock worth $292,000 after buying an additional 479 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.0 %

Shares of BSY opened at $43.02 on Monday. The stock has a market capitalization of $12.54 billion, a P/E ratio of 38.76, a PEG ratio of 3.52 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a fifty day simple moving average of $45.96 and a two-hundred day simple moving average of $48.03. Bentley Systems, Incorporated has a twelve month low of $41.84 and a twelve month high of $57.19.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.28 annualized dividend and a yield of 0.65%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the transaction, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BSY has been the subject of a number of research reports. The Goldman Sachs Group cut 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 research note on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. Robert W. Baird cut their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler cut their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

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.