Polen Capital Management LLC Invests $1 Million in Bentley Systems, Incorporated (NASDAQ:BSY)

Polen Capital Management LLC acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 21,407 shares of the company's stock, valued at approximately $1,000,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BSY. Swedbank AB grew its holdings in shares of Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company's stock valued at $260,874,000 after purchasing an additional 1,000,000 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock valued at $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Bentley Systems by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 95,099 shares of the company's stock valued at $4,832,000 after purchasing an additional 3,163 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Bentley Systems by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company's stock valued at $468,000 after purchasing an additional 378 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Bentley Systems by 0.7% during the 3rd quarter. Swiss National Bank now owns 470,900 shares of the company's stock valued at $23,926,000 after purchasing an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

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Bentley Systems Stock Down 0.9 %

NASDAQ BSY traded down $0.36 during trading hours on Thursday, reaching $41.65. 1,118,326 shares of the company's stock traded hands, compared to its average volume of 1,196,290. Bentley Systems, Incorporated has a 52-week low of $39.98 and a 52-week high of $57.19. The firm has a market cap of $12.14 billion, a PE ratio of 37.52, a PEG ratio of 3.52 and a beta of 1.04. The firm has a 50-day simple moving average of $45.10 and a 200 day simple moving average of $47.52. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be given a dividend of $0.07 per share. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, March 19th. Bentley Systems's dividend payout ratio (DPR) is 38.36%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BSY shares. Robert W. Baird cut their price target on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Oppenheimer lowered shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. Piper Sandler cut their price target 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. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and cut their price target for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $56.14.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares of the company's stock, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is currently owned by corporate insiders.

About Bentley Systems

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.