Polen Capital Management LLC Purchases New Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Polen Capital Management LLC acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,407 shares of the company’s stock, valued at approximately $1,000,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB boosted its position in shares of Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in 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 in the last quarter. Victory Capital Management Inc. grew its stake in shares of Bentley Systems by 3.4% in the third quarter. Victory Capital Management Inc. now owns 95,099 shares of the company’s stock worth $4,832,000 after acquiring an additional 3,163 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Bentley Systems by 4.3% in the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after acquiring an additional 378 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Bentley Systems by 0.7% during the third quarter. Swiss National Bank now owns 470,900 shares of the company’s stock valued at $23,926,000 after acquiring an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

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

Bentley Systems Stock Performance

BSY stock opened at $41.44 on Monday. 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, Incorporated has a 1 year low of $39.98 and a 1 year high of $57.19. The company has a market cap of $12.08 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The stock’s fifty day moving average price is $45.37 and its 200-day moving average price is $47.69.

Bentley Systems Increases Dividend

The company also recently declared 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. This is an increase 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 0.68%. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s payout ratio is currently 38.36%.

Analyst Ratings Changes

Several brokerages recently commented on BSY. Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Piper Sandler cut 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. 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

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.