Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 330,954 shares of the company’s stock after buying an additional 1,509 shares during the quarter. LPL Financial LLC’s holdings in Bentley Systems were worth $15,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in Bentley Systems during the fourth quarter worth approximately $2,363,000. Quantbot Technologies LP acquired a new stake in Bentley Systems during the 4th quarter worth $3,867,000. Xponance Inc. lifted its position in Bentley Systems by 3.2% in the fourth quarter. Xponance Inc. now owns 29,769 shares of the company’s stock valued at $1,390,000 after acquiring an additional 935 shares during the last quarter. Intech Investment Management LLC boosted its stake in Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after acquiring an additional 254 shares in the last quarter. Finally, Polen Capital Management LLC purchased a new position in shares of Bentley Systems during the fourth quarter worth about $1,000,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of research analyst reports. 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 for the company. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. UBS Group initiated coverage on shares of Bentley Systems in a research report on Monday. They set a “neutral” rating and a $48.00 price objective on the stock. Piper Sandler decreased their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Robert W. Baird dropped their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Bentley Systems has a consensus rating of “Hold” and a consensus target price of $55.13.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the 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 sale, the director now owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Trading Up 2.9 %

NASDAQ:BSY opened at $40.49 on Wednesday. The company has a market capitalization of $11.81 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a 52-week low of $38.66 and a 52-week high of $57.19. The stock has a fifty day simple moving average of $44.23 and a 200-day simple moving average of $47.03. 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was 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%.

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.