Bentley Systems, Incorporated (NASDAQ:BSY) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,053,762 shares of the company's stock after acquiring an additional 97,950 shares during the quarter. Bank of New York Mellon Corp owned about 0.36% of Bentley Systems worth $49,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BSY. CIBC Asset Management Inc grew its stake in shares of Bentley Systems by 4.3% in the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company's stock valued at $468,000 after buying an additional 378 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company's stock valued at $426,000 after buying an additional 380 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Bentley Systems by 5.4% in the fourth quarter. Park Avenue Securities LLC now owns 9,138 shares of the company's stock valued at $427,000 after buying an additional 467 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems in the third quarter valued at $30,000. Finally, MML Investors Services LLC grew its stake in shares of Bentley Systems by 2.8% in the third quarter. MML Investors Services LLC now owns 26,991 shares of the company's stock valued at $1,371,000 after buying an additional 741 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

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Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 1,152 shares of the business'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 sale, the director now directly owns 16,703,876 shares of the company's stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is owned by company insiders.

Bentley Systems Stock Up 0.0 %

NASDAQ BSY traded up $0.01 during trading on Friday, reaching $43.02. 1,222,729 shares of the company's stock were exchanged, compared to its average volume of 1,285,382. The stock has a market cap of $12.54 billion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. 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 company has a 50 day moving average price of $45.96 and a two-hundred day moving average price of $48.04. Bentley Systems, Incorporated has a 1 year low of $41.84 and a 1 year high of $57.19.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems's payout ratio is 38.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BSY shares. Piper Sandler dropped their price objective on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 target price for the company. Robert W. Baird decreased their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Oppenheimer lowered Bentley Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Bentley Systems has an average rating of "Moderate Buy" and a consensus price target of $56.14.

Bentley Systems 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.