Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 526.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,800 shares of the company's stock after buying an additional 230,900 shares during the quarter. Renaissance Technologies LLC owned 0.09% of Bentley Systems worth $12,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. FIL Ltd lifted its holdings in Bentley Systems by 100.5% during the 4th quarter. FIL Ltd now owns 7,384 shares of the company's stock worth $345,000 after buying an additional 3,702 shares during the last quarter. Aviva PLC acquired a new stake in shares of Bentley Systems during the 4th quarter worth about $4,207,000. Resona Asset Management Co. Ltd. purchased a new stake in Bentley Systems during the fourth quarter worth approximately $2,224,000. Prudential PLC boosted its holdings in Bentley Systems by 0.6% in the fourth quarter. Prudential PLC now owns 63,008 shares of the company's stock valued at $2,942,000 after purchasing an additional 371 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new position in Bentley Systems in the fourth quarter valued at approximately $1,733,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Trading Down 0.4 %

Shares of NASDAQ BSY traded down $0.17 on Friday, reaching $43.19. 1,926,511 shares of the company traded hands, compared to its average volume of 1,221,141. The stock has a market capitalization of $12.59 billion, a PE ratio of 38.91, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average of $42.70 and a 200 day moving average of $46.17.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is currently 38.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BSY shares. UBS Group started coverage on shares of Bentley Systems in a report on Monday, March 31st. They issued a "neutral" rating and a $48.00 target price for the company. Mizuho decreased their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday. The Goldman Sachs Group downgraded shares of Bentley Systems from a "neutral" rating to a "sell" rating and lowered their target price for the company from $51.00 to $42.00 in a report on Friday, February 28th. Piper Sandler cut 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. Finally, Oppenheimer upgraded Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.70.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction 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 in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.12% of the stock is owned by company insiders.

Bentley Systems 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.