Plato Investment Management Ltd purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,529 shares of the company's stock, valued at approximately $447,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Swedbank AB boosted its holdings 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 worth $327,242,000 after purchasing an additional 1,873,029 shares during the period. Impax Asset Management Group plc purchased a new position in Bentley Systems during the third quarter worth $88,771,000. Fiera Capital Corp bought a new position in Bentley Systems during the third quarter valued at $42,773,000. Weiss Asset Management LP bought a new stake in shares of Bentley Systems in the 3rd quarter worth about $10,501,000. Finally, Bar Harbor Wealth Management purchased a new position in shares of Bentley Systems during the 4th quarter worth about $8,413,000. 44.16% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Bentley Systems
In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.12% of the company's stock.
Bentley Systems Stock Up 0.0 %
Shares of BSY traded up $0.01 during midday trading on Friday, reaching $43.02. 1,222,729 shares of the stock were exchanged, compared to its average volume of 1,285,382. The company has a market capitalization of $12.54 billion, a P/E ratio of 38.76, a PEG ratio of 3.52 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 52 week low of $41.84 and a 52 week high of $57.19. The company's 50 day moving average is $46.06 and its two-hundred day moving average is $48.11.
Bentley Systems Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.65%. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. Bentley Systems's dividend payout ratio is presently 38.36%.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Oppenheimer lowered shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 price target on the stock. The Goldman Sachs Group cut Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $51.00 to $42.00 in a report on Friday, February 28th. Robert W. Baird reduced their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Bentley Systems has an average rating of "Moderate Buy" and an average price target of $56.14.
Check Out Our Latest Research Report on BSY
Bentley Systems Profile
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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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