Sumitomo Mitsui Trust Group Inc. Has $15.19 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Sumitomo Mitsui Trust Group Inc. grew its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 325,168 shares of the company’s stock after acquiring an additional 3,126 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bentley Systems were worth $15,185,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BSY. Swedbank AB increased its holdings in shares of Bentley Systems by 36.5% during the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after acquiring an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc acquired a new position in shares of Bentley Systems during the 3rd quarter valued at about $88,771,000. TimesSquare Capital Management LLC increased its holdings in shares of Bentley Systems by 3.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company’s stock valued at $58,998,000 after acquiring an additional 39,205 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Bentley Systems during the 3rd quarter valued at about $42,773,000. Finally, Copeland Capital Management LLC increased its holdings in shares of Bentley Systems by 60.9% during the 3rd quarter. Copeland Capital Management LLC now owns 683,962 shares of the company’s stock valued at $34,752,000 after acquiring an additional 258,992 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Price Performance

Shares of BSY stock opened at $46.08 on Thursday. The stock has a 50 day moving average of $47.03 and a two-hundred day moving average of $48.45. 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 12 month low of $43.82 and a 12 month high of $57.19. The company has a market capitalization of $13.40 billion, a P/E ratio of 41.51, a P/E/G ratio of 3.50 and a beta of 1.03.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. Bentley Systems’s dividend payout ratio is currently 21.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BSY. JPMorgan Chase & Co. began coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Finally, Piper Sandler decreased their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.12% of the company’s stock.

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.