Fisher Asset Management LLC Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Fisher Asset Management LLC acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 144,257 shares of the company’s stock, valued at approximately $6,737,000.

Several other hedge funds also recently bought and sold shares of the company. Swedbank AB boosted its stake in Bentley Systems by 36.5% during 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 during the period. Impax Asset Management Group plc bought a new stake in shares of Bentley Systems during the 3rd quarter valued at about $88,771,000. Fiera Capital Corp purchased a new position in shares of Bentley Systems during the third quarter worth about $42,773,000. Weiss Asset Management LP bought a new position in shares of Bentley Systems in the third quarter worth approximately $10,501,000. Finally, Bar Harbor Wealth Management purchased a new stake in Bentley Systems in the fourth quarter valued at approximately $8,413,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems 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 sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 21.12% of the stock is owned by insiders.

Bentley Systems Trading Down 1.4 %

NASDAQ:BSY opened at $42.22 on Wednesday. The firm has a market capitalization of $12.31 billion, a P/E ratio of 38.04, a P/E/G ratio of 3.52 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a fifty day moving average of $46.24 and a 200 day moving average of $48.17. Bentley Systems, Incorporated has a 52 week low of $41.96 and a 52 week high of $57.19.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s dividend payout ratio is currently 38.36%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BSY. Piper Sandler decreased their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and reduced their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Robert W. Baird dropped their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

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.