17,334 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,334 shares of the company's stock, valued at approximately $809,000.

A number of other hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock worth $49,161,000 after purchasing an additional 15,372 shares during the period. Plato Investment Management Ltd purchased a new position in Bentley Systems during the fourth quarter valued at $447,000. Norden Group LLC increased its holdings in shares of Bentley Systems by 8.3% in the fourth quarter. Norden Group LLC now owns 6,250 shares of the company's stock worth $292,000 after purchasing an additional 479 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Bentley Systems in the fourth quarter worth about $6,737,000. Finally, Private Trust Co. NA boosted its stake in Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after buying an additional 378 shares during the last quarter. Institutional investors own 44.16% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BSY shares. Robert W. Baird decreased their price objective on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a "neutral" rating and a $52.00 price target on the stock. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. Finally, Piper Sandler lowered their price target on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Bentley Systems presently has an average rating of "Moderate Buy" and an average target price of $56.14.

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Bentley Systems Trading Up 0.7 %

NASDAQ:BSY traded up $0.30 during mid-day trading on Wednesday, hitting $42.18. 1,158,650 shares of the stock traded hands, compared to its average volume of 1,200,929. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 3.52 and a beta of 1.04. The firm's 50 day moving average is $44.77 and its two-hundred day moving average is $47.31. Bentley Systems, Incorporated has a 52 week low of $39.98 and a 52 week high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, March 19th. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio is 38.36%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.