9,034 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,034 shares of the company's stock, valued at approximately $422,000.

A number of other institutional investors have also recently made changes to their positions in BSY. Allstate Corp acquired a new position in shares of Bentley Systems in the fourth quarter worth $211,000. Brown Brothers Harriman & Co. acquired a new position in Bentley Systems in the fourth quarter worth about $84,000. Pictet Asset Management Holding SA raised its holdings in shares of Bentley Systems by 0.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock worth $262,209,000 after purchasing an additional 24,019 shares during the period. Norges Bank bought a new stake in shares of Bentley Systems in the 4th quarter worth approximately $6,361,000. Finally, Caisse Des Depots ET Consignations acquired a new position in Bentley Systems during the 4th quarter valued at about $2,140,000. Institutional investors and hedge funds own 44.16% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BSY. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. Piper Sandler lowered their price target on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Oppenheimer raised Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price objective on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their target price on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and lowered their price target for the company from $51.00 to $42.00 in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of "Moderate Buy" and a consensus price target of $52.56.

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Insider Activity

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the 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 completion of the sale, the director now directly owns 16,703,876 shares of the company's stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 21.12% of the company's stock.

Bentley Systems Stock Down 0.9 %

Shares of NASDAQ:BSY traded down $0.38 during trading on Tuesday, hitting $42.62. The stock had a trading volume of 1,311,127 shares, compared to its average volume of 1,276,894. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $57.19. 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's fifty day moving average is $42.88 and its 200 day moving average is $46.29. The company has a market capitalization of $12.43 billion, a PE ratio of 38.40, a PEG ratio of 3.52 and a beta of 1.06.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.66%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems's dividend payout ratio (DPR) is presently 38.36%.

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.