Bentley Systems, Incorporated (NASDAQ:BSY) is Kayne Anderson Rudnick Investment Management LLC's 7th Largest Position

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,006,945 shares of the company's stock after selling 142,721 shares during the period. Bentley Systems makes up about 1.7% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 7th largest holding. Kayne Anderson Rudnick Investment Management LLC owned about 5.51% of Bentley Systems worth $747,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BSY. Swedbank AB boosted its stake in shares of Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company's stock valued at $327,242,000 after buying an additional 1,873,029 shares during the period. Impax Asset Management Group plc raised its holdings in Bentley Systems by 41.9% in 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 acquiring an additional 736,369 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Bentley Systems by 591.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock worth $26,446,000 after acquiring an additional 475,361 shares in the last quarter. LBP AM SA purchased a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $13,591,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Bentley Systems by 526.0% in the 4th quarter. Renaissance Technologies LLC now owns 274,800 shares of the company's stock valued at $12,833,000 after purchasing an additional 230,900 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of Bentley Systems stock traded up $0.12 during trading hours on Wednesday, hitting $43.42. 1,461,161 shares of the company were exchanged, compared to its average volume of 1,204,049. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average of $42.56 and a 200-day moving average of $46.06. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $57.19. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 39.12, a P/E/G ratio of 3.52 and a beta of 1.06.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.64%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio is presently 38.36%.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the 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 directly owns 16,703,876 shares of the company's stock, valued at $773,890,575.08. This 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 this link. Company insiders own 21.12% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler lowered their target price on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lowered their price objective 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 lowered Bentley Systems from a "neutral" rating to a "sell" rating and cut their target price for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Mizuho cut their target price on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, KeyCorp decreased their target price on 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.70.

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.