Johnson Investment Counsel Inc. Cuts Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Johnson Investment Counsel Inc. lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 23.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,884 shares of the company’s stock after selling 11,186 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Bentley Systems were worth $1,946,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Solstein Capital LLC purchased a new position in Bentley Systems in the second quarter worth $26,000. Tower Research Capital LLC TRC raised its position in Bentley Systems by 261.5% in the first quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock worth $28,000 after acquiring an additional 476 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Bentley Systems in the second quarter worth $31,000. Belpointe Asset Management LLC raised its position in Bentley Systems by 43.6% in the first quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock worth $33,000 after acquiring an additional 230 shares in the last quarter. Finally, State of Wyoming raised its position in Bentley Systems by 6,393.8% in the fourth quarter. State of Wyoming now owns 1,039 shares of the company’s stock worth $38,000 after acquiring an additional 1,023 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Down 0.4 %

BSY opened at $52.89 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.28. The firm has a market cap of $15.04 billion, a P/E ratio of 99.79, a PEG ratio of 6.34 and a beta of 1.18. Bentley Systems, Incorporated has a 52 week low of $33.75 and a 52 week high of $55.37. The business’s fifty day simple moving average is $50.47 and its 200 day simple moving average is $50.10.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, December 4th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, December 1st. Bentley Systems’s payout ratio is currently 37.74%.

Insider Activity at Bentley Systems

In related news, CEO Gregory S. Bentley sold 79,337 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $50.16, for a total transaction of $3,979,543.92. Following the sale, the chief executive officer now owns 7,738,312 shares of the company’s stock, valued at $388,153,729.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Bentley Systems news, CEO Gregory S. Bentley sold 67,313 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $48.45, for a total value of $3,261,314.85. Following the sale, the chief executive officer now directly owns 7,526,387 shares of the company’s stock, valued at approximately $364,653,450.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory S. Bentley sold 79,337 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $50.16, for a total value of $3,979,543.92. Following the completion of the sale, the chief executive officer now directly owns 7,738,312 shares in the company, valued at $388,153,729.92. The disclosure for this sale can be found here. Insiders have sold a total of 215,086 shares of company stock valued at $10,592,409 over the last quarter. Insiders own 21.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BSY. Oppenheimer increased their price objective on Bentley Systems from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. TheStreet raised Bentley Systems from a “c” rating to a “b-” rating in a report on Tuesday, November 7th. Rosenblatt Securities reissued a “neutral” rating and issued a $47.00 target price on shares of Bentley Systems in a report on Tuesday, August 8th. Piper Sandler reissued an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, November 8th. Finally, Wolfe Research lowered Bentley Systems from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.