Pictet Asset Management Holding SA Increases Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Pictet Asset Management Holding SA boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,614,750 shares of the company’s stock after buying an additional 24,019 shares during the quarter. Pictet Asset Management Holding SA owned 1.93% of Bentley Systems worth $262,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC raised its stake in shares of Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after acquiring an additional 254 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Bentley Systems by 3.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after purchasing an additional 317 shares during the period. Private Trust Co. NA raised its position in Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after purchasing an additional 378 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Bentley Systems by 4.3% in the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after buying an additional 380 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Bentley Systems by 5.4% during the fourth quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $427,000 after buying an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of BSY opened at $40.36 on Friday. The firm has a fifty day moving average price of $44.58 and a 200 day moving average price of $47.22. The stock has a market cap of $11.77 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a 1-year low of $39.98 and a 1-year high of $57.19. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a $0.07 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems’s payout ratio is presently 38.36%.

Analyst Ratings Changes

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

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.