Quantbot Technologies LP Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Quantbot Technologies LP acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 82,802 shares of the company’s stock, valued at approximately $3,867,000.

Several other hedge funds have also recently bought and sold shares of BSY. Xponance Inc. increased its position in shares of Bentley Systems by 3.2% during the fourth quarter. Xponance Inc. now owns 29,769 shares of the company’s stock worth $1,390,000 after acquiring an additional 935 shares during the period. Intech Investment Management LLC lifted its stake in Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after acquiring an additional 254 shares during the last quarter. Polen Capital Management LLC acquired a new stake in shares of Bentley Systems in the 4th quarter valued at $1,000,000. Atala Financial Inc purchased a new stake in shares of Bentley Systems during the 4th quarter worth $55,000. Finally, LBP AM SA acquired a new position in shares of Bentley Systems during the fourth quarter worth $13,591,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Piper Sandler decreased their target price 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 lowered shares of 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. Robert W. Baird reduced their price objective 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. Finally, Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.14.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $41.94 on Friday. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 3.52 and a beta of 1.04. The firm’s fifty day simple moving average is $44.92 and its 200-day simple moving average is $47.41. 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 12 month low of $39.98 and a 12 month high of $57.19.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. Bentley Systems’s dividend payout ratio is 38.36%.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 21.12% of the company’s stock.

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.