Bank of New York Mellon Corp Purchases 97,950 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bank of New York Mellon Corp raised its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,053,762 shares of the company’s stock after buying an additional 97,950 shares during the quarter. Bank of New York Mellon Corp owned about 0.36% of Bentley Systems worth $49,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Impax Asset Management Group plc lifted its holdings in shares of Bentley Systems by 41.9% in the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after acquiring an additional 736,369 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Bentley Systems by 4,627.3% in the fourth quarter. IFP Advisors Inc now owns 4,680 shares of the company’s stock worth $220,000 after acquiring an additional 4,581 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Bentley Systems by 31.1% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,613 shares of the company’s stock worth $2,224,000 after acquiring an additional 11,300 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after acquiring an additional 380 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Bentley Systems by 9.8% in the fourth quarter. CIBC Asset Management Inc now owns 10,105 shares of the company’s stock worth $472,000 after acquiring an additional 902 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BSY. Rosenblatt Securities reissued 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 cut Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $51.00 to $42.00 in a report on Friday, February 28th. JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. Robert W. Baird reduced their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Price Performance

Shares of BSY opened at $43.39 on Thursday. Bentley Systems, Incorporated has a 1 year low of $41.84 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. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 39.09, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The business has a 50-day moving average of $46.15 and a 200-day moving average of $48.14.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is 38.36%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.12% of the stock is owned by corporate insiders.

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.