Tortoise Investment Management LLC Buys 728 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Tortoise Investment Management LLC lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 76.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,675 shares of the company’s stock after buying an additional 728 shares during the quarter. Tortoise Investment Management LLC’s holdings in Bentley Systems were worth $78,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BSY. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems during the third quarter worth $30,000. Private Trust Co. NA raised its stake in Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after purchasing an additional 378 shares in the last quarter. Tobam acquired a new position in Bentley Systems in the fourth quarter valued at about $55,000. Anchor Investment Management LLC acquired a new position in Bentley Systems in the third quarter valued at about $110,000. Finally, IFP Advisors Inc raised its stake in Bentley Systems by 4,627.3% in the fourth quarter. IFP Advisors Inc now owns 4,680 shares of the company’s stock valued at $220,000 after purchasing an additional 4,581 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Piper Sandler dropped their price target 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. The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price target for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Stock Performance

Bentley Systems stock opened at $41.14 on Tuesday. Bentley Systems, Incorporated has a 12-month low of $40.98 and a 12-month high of $57.19. 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 business’s 50-day moving average price is $45.84 and its two-hundred day moving average price is $47.97. The stock has a market cap of $12.00 billion, a PE ratio of 37.06, a P/E/G ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s payout ratio is currently 38.36%.

Insider Buying and Selling 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 stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the sale, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 21.12% of the company’s stock.

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.