Dark Forest Capital Management LP Grows Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Dark Forest Capital Management LP lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,860 shares of the company's stock after acquiring an additional 7,291 shares during the quarter. Bentley Systems makes up approximately 0.4% of Dark Forest Capital Management LP's holdings, making the stock its 29th biggest holding. Dark Forest Capital Management LP's holdings in Bentley Systems were worth $2,889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB grew its holdings in Bentley Systems by 36.5% during the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company's stock worth $327,242,000 after acquiring an additional 1,873,029 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 0.4% in the 4th 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. Impax Asset Management Group plc boosted its stake in shares of Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock valued at $115,719,000 after purchasing an additional 736,369 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock valued at $49,211,000 after buying an additional 97,950 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock worth $49,161,000 after buying an additional 15,372 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on BSY. Robert W. Baird dropped their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Piper Sandler cut their target price on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and decreased their price target for the company from $51.00 to $42.00 in a research report on Friday, February 28th. UBS Group initiated coverage on shares of Bentley Systems in a research report on Monday, March 31st. They issued a "neutral" rating and a $48.00 price objective on the stock. Finally, KeyCorp decreased their target price on shares of Bentley Systems from $63.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.70.

Bentley Systems Stock Up 2.1 %

NASDAQ:BSY opened at $43.30 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $57.19. The company has a market cap of $12.61 billion, a PE ratio of 39.01, a P/E/G ratio of 3.52 and a beta of 1.06. The company's 50 day moving average is $42.56 and its two-hundred day moving average is $46.06.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 a positive change 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 0.65%. Bentley Systems's payout ratio is 38.36%.

Insider Buying and Selling

In related 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 value of $53,372.16. Following the transaction, the director now owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 21.12% of the stock is currently owned by company insiders.

About Bentley Systems

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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