Montanaro Asset Management Ltd Has $17.43 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Montanaro Asset Management Ltd lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 373,216 shares of the company's stock after buying an additional 41,800 shares during the quarter. Bentley Systems comprises about 3.6% of Montanaro Asset Management Ltd's portfolio, making the stock its 8th largest holding. Montanaro Asset Management Ltd owned approximately 0.13% of Bentley Systems worth $17,429,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BSY. Point72 Hong Kong Ltd bought a new position in Bentley Systems during the 3rd quarter worth $30,000. Private Trust Co. NA boosted 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 valued at $47,000 after purchasing an additional 378 shares during the period. Tobam acquired a new position in shares of Bentley Systems during the 4th quarter worth approximately $55,000. Atala Financial Inc bought a new position in shares of Bentley Systems during the fourth quarter worth approximately $55,000. Finally, Tortoise Investment Management LLC grew its position in Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock worth $78,000 after buying an additional 728 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Robert W. Baird cut their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Oppenheimer lowered shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. Piper Sandler reduced their price target on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Rosenblatt Securities restated a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $55.13.

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Insider Activity

In related news, Director Keith A. Bentley sold 1,152 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 21.12% of the company's stock.

Bentley Systems Trading Down 1.6 %

Shares of Bentley Systems stock traded down $0.65 on Monday, hitting $39.05. The stock had a trading volume of 211,492 shares, compared to its average volume of 1,294,006. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a twelve month low of $38.72 and a twelve month high of $57.19. The stock has a 50 day moving average of $44.46 and a 200 day moving average of $47.16. The firm has a market capitalization of $11.39 billion, a P/E ratio of 35.23, a PEG ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued 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 annualized dividend and a yield of 0.72%. Bentley Systems's payout ratio is presently 38.36%.

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.