Marshall Wace LLP Cuts Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Marshall Wace LLP trimmed its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 66.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,125 shares of the company’s stock after selling 35,115 shares during the period. Marshall Wace LLP’s holdings in Bentley Systems were worth $846,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after acquiring an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Bentley Systems during the 4th quarter worth approximately $809,000. Principal Financial Group Inc. raised its stake in shares of Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after buying an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management acquired a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $8,413,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Bentley Systems by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after buying an additional 97,950 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Down 0.3 %

Shares of NASDAQ:BSY opened at $42.99 on Thursday. 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 company has a market capitalization of $13.03 billion, a P/E ratio of 38.73, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The stock’s fifty day simple moving average is $42.12 and its 200-day simple moving average is $45.84.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. Bentley Systems’s dividend payout ratio is 38.36%.

Analyst Ratings Changes

A number of equities research analysts have commented on BSY shares. Oppenheimer raised Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a report on Thursday, April 10th. Mizuho decreased their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. UBS Group started coverage on shares of Bentley Systems in a report on Monday, March 31st. They issued a “neutral” rating and a $48.00 target price for the company. Piper Sandler decreased their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.70.

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.