Aviva PLC acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 90,085 shares of the company's stock, valued at approximately $4,207,000.
Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Bentley Systems by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock worth $49,161,000 after purchasing an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Bentley Systems in the fourth quarter worth $809,000. Principal Financial Group Inc. grew its stake in shares of Bentley Systems by 20.5% in 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 during the last quarter. Bar Harbor Wealth Management purchased a new position in Bentley Systems in the fourth quarter worth about $8,413,000. Finally, Bank of New York Mellon Corp raised its position in Bentley Systems by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock worth $49,211,000 after buying an additional 97,950 shares during the last quarter. Institutional investors own 44.16% of the company's stock.
Insider Transactions at Bentley Systems
In related news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction dated 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 transaction, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.12% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on BSY. Piper Sandler reduced their price target 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. The Goldman Sachs Group cut Bentley Systems from a "neutral" rating to a "sell" rating and cut their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Robert W. Baird decreased their price target 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. Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. One equities research 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.56.
Read Our Latest Research Report on BSY
Bentley Systems Stock Performance
Shares of NASDAQ:BSY traded down $0.20 during midday trading on Tuesday, reaching $42.80. The company's stock had a trading volume of 186,791 shares, compared to its average volume of 1,271,350. The firm has a market capitalization of $12.48 billion, a PE ratio of 38.53, a P/E/G ratio of 3.52 and a beta of 1.06. The stock has a fifty day moving average of $42.96 and a 200 day moving average of $46.31. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve 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.
Bentley Systems Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a $0.07 dividend. 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. Bentley Systems's dividend payout ratio is presently 38.36%.
About Bentley Systems
(
Free Report)
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.
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