Resona Asset Management Co. Ltd. Buys New Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Resona Asset Management Co. Ltd. bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,515 shares of the company's stock, valued at approximately $2,224,000.

A number of other institutional investors have also recently made changes to their positions in BSY. Private Trust Co. NA raised its holdings 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 acquiring an additional 378 shares during the last quarter. Tobam purchased a new position in shares of Bentley Systems in the fourth quarter worth $55,000. Atala Financial Inc purchased a new position in shares of Bentley Systems in the fourth quarter worth $55,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Bentley Systems by 42.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock valued at $78,000 after purchasing an additional 495 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its position in shares of Bentley Systems by 76.9% during the fourth 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. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

Shares of BSY stock traded down $0.26 during mid-day trading on Tuesday, reaching $42.74. 186,791 shares of the company's stock traded hands, compared to its average volume of 1,271,350. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $12.46 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $57.19. The firm has a 50 day moving average price of $42.96 and a two-hundred day moving average price of $46.31.

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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 paid a dividend of $0.07 per share. The ex-dividend date of this dividend 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 dividend yield of 0.66%. Bentley Systems's payout ratio is 38.36%.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction dated Friday, January 24th. The stock was 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 owns 16,703,876 shares of the company's stock, valued at $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 21.12% of the company's stock.

Analysts Set New Price Targets

BSY has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. UBS Group assumed coverage on shares of Bentley Systems in a report on Monday, March 31st. They set a "neutral" rating and a $48.00 price objective for the company. Robert W. Baird dropped their target price on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Oppenheimer upgraded shares of 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. Finally, Rosenblatt Securities restated a "buy" rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems has an average rating of "Moderate Buy" and a consensus target price of $52.56.

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.