Norges Bank Invests $6.36 Million in Bentley Systems, Incorporated (NASDAQ:BSY)

Norges Bank acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 136,201 shares of the company's stock, valued at approximately $6,361,000.

Other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA increased its holdings in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after acquiring an additional 378 shares during the period. Tobam acquired a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems during the fourth quarter worth approximately $55,000. Tortoise Investment Management LLC grew its holdings in Bentley Systems by 76.9% in the 4th 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. Finally, Anchor Investment Management LLC acquired a new stake in Bentley Systems in the 3rd quarter valued at approximately $110,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Price Performance

Shares of BSY traded up $0.55 during mid-day trading on Monday, reaching $42.45. The company had a trading volume of 23,183 shares, compared to its average volume of 1,268,980. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $12.38 billion, a P/E ratio of 38.09, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $57.19. The company's 50-day moving average is $43.04 and its 200-day moving average is $46.37.

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Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. Bentley Systems's dividend payout ratio (DPR) is currently 38.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Robert W. Baird lowered their price target 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. Oppenheimer upgraded Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price objective for the company in a report on Thursday. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Finally, UBS Group assumed coverage on shares of Bentley Systems in a research report on Monday, March 31st. They set a "neutral" rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $53.67.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 21.12% of the company's stock.

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.