CIBC Asset Management Inc Purchases 902 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

CIBC Asset Management Inc increased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 9.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,105 shares of the company’s stock after acquiring an additional 902 shares during the period. CIBC Asset Management Inc’s holdings in Bentley Systems were worth $472,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in BSY. Swedbank AB boosted its position in Bentley Systems by 36.5% in the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after buying an additional 1,873,029 shares in the last quarter. Impax Asset Management Group plc acquired a new position in shares of Bentley Systems in the 3rd quarter valued at $88,771,000. TimesSquare Capital Management LLC lifted its stake in Bentley Systems by 3.5% in the third quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company’s stock valued at $58,998,000 after buying an additional 39,205 shares during the period. Fiera Capital Corp grew its position in shares of Bentley Systems by 13.2% during the 4th quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock worth $44,517,000 after buying an additional 111,433 shares during the period. Finally, Bridgewater Associates LP increased its stake in Bentley Systems by 6.4% in the third quarter. Bridgewater Associates LP now owns 556,684 shares of the company’s stock valued at $28,285,000 after purchasing an additional 33,344 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the business’s 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 sale, the director now 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 legal filing with the SEC, which can be accessed through this link. 21.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Bentley Systems Trading Down 2.0 %

Shares of Bentley Systems stock opened at $45.59 on Monday. The business has a fifty day simple moving average of $46.75 and a two-hundred day simple moving average of $48.42. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 41.07, a P/E/G ratio of 3.52 and a beta of 1.03. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19.

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.