KLP Kapitalforvaltning AS Buys Shares of 50,600 Bentley Systems, Incorporated (NASDAQ:BSY)

KLP Kapitalforvaltning AS acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 50,600 shares of the company's stock, valued at approximately $2,363,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems during the third quarter worth about $30,000. Private Trust Co. NA lifted its holdings in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after buying an additional 378 shares in the last quarter. Tobam purchased a new position in Bentley Systems in the 4th quarter valued at approximately $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems in the fourth quarter worth $55,000. Finally, Tortoise Investment Management LLC increased its position in shares of 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 acquiring an additional 728 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 1,152 shares of the 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 sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is currently owned by corporate insiders.

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Bentley Systems Stock Performance

Shares of BSY stock traded up $1.15 during mid-day trading on Tuesday, hitting $40.49. 1,664,299 shares of the stock were exchanged, compared to its average volume of 1,252,651. The stock's fifty day simple moving average is $44.23 and its two-hundred day simple moving average is $47.03. 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 12-month low of $38.66 and a 12-month high of $57.19. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Wednesday, March 19th. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is currently 38.36%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BSY shares. Rosenblatt Securities restated a "buy" rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. The Goldman Sachs Group lowered shares of 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 note on Friday, February 28th. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a "neutral" rating and a $52.00 price target for the company. Piper Sandler dropped their price objective 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, Oppenheimer cut shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $55.13.

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.