Pictet Asset Management Holding SA increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,614,750 shares of the company's stock after purchasing an additional 24,019 shares during the period. Pictet Asset Management Holding SA owned approximately 1.93% of Bentley Systems worth $262,209,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in BSY. Quest Partners LLC bought a new position in Bentley Systems in the 3rd quarter valued at $221,000. Raymond James Trust N.A. grew its holdings in shares of Bentley Systems by 25.7% in the third quarter. Raymond James Trust N.A. now owns 5,757 shares of the company's stock worth $293,000 after purchasing an additional 1,177 shares during the last quarter. Townsquare Capital LLC increased its stake in Bentley Systems by 3.3% in the 3rd quarter. Townsquare Capital LLC now owns 99,003 shares of the company's stock worth $5,030,000 after buying an additional 3,122 shares during the period. Bridgewater Associates LP lifted its holdings in Bentley Systems by 6.4% during the 3rd quarter. Bridgewater Associates LP now owns 556,684 shares of the company's stock valued at $28,285,000 after buying an additional 33,344 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Bentley Systems by 4.4% in the 3rd quarter. Captrust Financial Advisors now owns 22,980 shares of the company's stock valued at $1,168,000 after buying an additional 971 shares during the period. 44.16% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of 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 lowered Bentley Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They set a "neutral" rating and a $52.00 price target on the stock. Finally, Piper Sandler dropped their target price on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Bentley Systems presently has a consensus rating of "Hold" and a consensus target price of $55.13.
Check Out Our Latest Report on Bentley Systems
Insider Activity
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 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 trade represents a 0.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 21.12% of the company's stock.
Bentley Systems Stock Up 1.8 %
BSY traded up $0.71 on Tuesday, hitting $40.05. The company had a trading volume of 402,844 shares, compared to its average volume of 1,319,971. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 3.52 and a beta of 1.04. The stock has a fifty day moving average price of $44.34 and a 200-day moving average price of $47.09. Bentley Systems, Incorporated has a 12-month low of $38.66 and a 12-month high of $57.19.
Bentley Systems Increases Dividend
The firm 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. This represents a $0.28 annualized dividend and a dividend yield of 0.70%. 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. Bentley Systems's dividend payout ratio is currently 38.36%.
About Bentley Systems
(
Free Report)
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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