Fisher Asset Management LLC Purchases New Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Fisher Asset Management LLC bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 144,257 shares of the company's stock, valued at approximately $6,737,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its holdings in shares of Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company's stock valued at $260,874,000 after purchasing an additional 1,000,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Bentley Systems by 94.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company's stock worth $584,000 after buying an additional 5,596 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of Bentley Systems by 14.4% during the third quarter. Stephens Inc. AR now owns 8,971 shares of the company's stock valued at $456,000 after purchasing an additional 1,130 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Bentley Systems by 0.8% during the third quarter. Janney Montgomery Scott LLC now owns 205,997 shares of the company's stock valued at $10,467,000 after purchasing an additional 1,721 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Bentley Systems by 88.2% during the third quarter. Harbor Capital Advisors Inc. now owns 49,122 shares of the company's stock valued at $2,496,000 after purchasing an additional 23,022 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

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Bentley Systems Price Performance

Shares of BSY traded up $0.01 during mid-day trading on Friday, reaching $43.02. The stock had a trading volume of 1,222,729 shares, compared to its average volume of 1,285,382. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a 12 month low of $41.84 and a 12 month high of $57.19. The business has a fifty day moving average of $46.06 and a 200 day moving average of $48.11. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be given a $0.07 dividend. 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%. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems's dividend payout ratio is presently 38.36%.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BSY shares. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a report on Monday, December 9th. They set a "neutral" rating and a $52.00 price objective for the company. Robert W. Baird reduced their target price on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and reduced their target price for the company from $51.00 to $42.00 in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. Finally, Oppenheimer cut shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Bentley Systems presently has an average rating of "Moderate Buy" and a consensus price target of $56.14.

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.