KLP Kapitalforvaltning AS Buys Shares of 50,600 Bentley Systems, Incorporated (NASDAQ:BSY)

KLP Kapitalforvaltning AS acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the 4th quarter, Holdings Channel reports. The fund acquired 50,600 shares of the company’s stock, valued at approximately $2,363,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew 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 valued at $49,161,000 after purchasing an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Bentley Systems during the fourth quarter worth $809,000. Principal Financial Group Inc. raised its holdings in shares of Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after acquiring an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management purchased a new stake in shares of Bentley Systems in the fourth quarter valued at $8,413,000. Finally, Needham Investment Management LLC purchased a new stake in Bentley Systems during the 3rd quarter worth about $2,134,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Trading Down 4.3 %

NASDAQ:BSY opened at $40.36 on Friday. The business’s 50-day moving average is $44.58 and its two-hundred day moving average is $47.22. The firm has a market capitalization of $11.77 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a 12 month low of $39.98 and a 12 month high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is presently 38.36%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BSY shares. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price on the stock. Robert W. Baird cut their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is currently owned by corporate insiders.

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.