Polen Capital Management LLC acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) 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
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.
Check Out Our Latest Report on BSY
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.
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