Johnson Investment Counsel Inc. Purchases 11,560 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Johnson Investment Counsel Inc. lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,863 shares of the company’s stock after buying an additional 11,560 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Bentley Systems were worth $3,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after buying an additional 34,871 shares during the period. Bar Harbor Wealth Management acquired a new stake in shares of Bentley Systems during the 4th quarter worth approximately $8,413,000. Proficio Capital Partners LLC acquired a new stake in shares of Bentley Systems during the 4th quarter worth approximately $809,000. Needham Investment Management LLC acquired a new stake in Bentley Systems in the 3rd quarter valued at $2,134,000. Finally, Mirabella Financial Services LLP grew its position in Bentley Systems by 1,155.0% in the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after purchasing an additional 92,768 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BSY. Piper Sandler reduced their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Tuesday, February 25th. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price target for the company from $51.00 to $42.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Finally, Robert W. Baird reduced their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems 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 directly owns 16,703,876 shares in the company, valued at $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $41.14 on Tuesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock’s fifty day simple moving average is $45.84 and its two-hundred day simple moving average is $47.97. Bentley Systems, Incorporated has a 1-year low of $40.98 and a 1-year high of $57.19. The stock has a market cap of $12.00 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.68%. Bentley Systems’s dividend payout ratio (DPR) 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.