Norden Group LLC Buys 479 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Norden Group LLC lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 8.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,250 shares of the company’s stock after purchasing an additional 479 shares during the period. Norden Group LLC’s holdings in Bentley Systems were worth $292,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in shares of Bentley Systems in the fourth quarter worth $6,737,000. Private Trust Co. NA lifted its position in Bentley Systems by 61.1% during 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 during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Bentley Systems in the 4th quarter worth $809,000. Gulf International Bank UK Ltd grew its stake in shares of Bentley Systems by 34.0% in the 4th quarter. Gulf International Bank UK Ltd now owns 22,098 shares of the company’s stock worth $1,031,000 after buying an additional 5,604 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Bentley Systems in the 4th quarter valued at about $594,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred 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 owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This represents 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

BSY has been the topic of several analyst reports. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Robert W. Baird reduced their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Bentley Systems Trading Down 1.4 %

BSY opened at $42.22 on Wednesday. The company has a market capitalization of $12.31 billion, a P/E ratio of 38.04, a PEG 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. Bentley Systems, Incorporated has a 52 week low of $41.96 and a 52 week high of $57.19. The stock’s fifty day moving average is $46.24 and its two-hundred day moving average is $48.17.

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 dividend of $0.07 per share. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. Bentley Systems’s dividend payout ratio (DPR) is 38.36%.

Bentley Systems 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.