Mitsubishi UFJ Asset Management Co. Ltd. Purchases 713 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,178 shares of the company’s stock after purchasing an additional 713 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bentley Systems were worth $4,998,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BSY. Point72 Hong Kong Ltd bought a new stake in Bentley Systems in the third quarter valued at about $30,000. Private Trust Co. NA increased its stake in shares of 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 acquiring an additional 378 shares during the last quarter. Tobam acquired a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $55,000. Atala Financial Inc bought a new position in Bentley Systems during the 4th quarter worth approximately $55,000. Finally, Tortoise Investment Management LLC grew its holdings in Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after purchasing an additional 728 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY opened at $40.49 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 12 month low of $38.66 and a 12 month high of $57.19. The firm has a fifty day simple moving average of $44.23 and a 200 day simple moving average of $47.03. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

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

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. UBS Group began coverage on Bentley Systems in a report on Monday. They issued a “neutral” rating and a $48.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. Robert W. Baird lowered their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price target for the company from $51.00 to $42.00 in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Hold” and an average target price of $55.13.

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.