Townsquare Capital LLC Increases Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Townsquare Capital LLC lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,271 shares of the company’s stock after buying an additional 3,268 shares during the period. Townsquare Capital LLC’s holdings in Bentley Systems were worth $4,776,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB boosted its holdings in Bentley Systems by 36.5% during the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock worth $327,242,000 after buying an additional 1,873,029 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Bentley Systems by 41.9% during the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after acquiring an additional 736,369 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Bentley Systems by 591.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock worth $26,446,000 after acquiring an additional 475,361 shares in the last quarter. LBP AM SA acquired a new stake in shares of Bentley Systems in the 4th quarter worth approximately $13,591,000. Finally, Renaissance Technologies LLC increased its stake in Bentley Systems by 526.0% in the 4th quarter. Renaissance Technologies LLC now owns 274,800 shares of the company’s stock valued at $12,833,000 after purchasing an additional 230,900 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on BSY. UBS Group started coverage on Bentley Systems in a research report on Monday, March 31st. They set a “neutral” rating and a $48.00 target price on the stock. Oppenheimer upgraded shares of Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research report on Thursday. Robert W. Baird dropped their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. cut their target price on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.67.

Bentley Systems Trading Up 0.7 %

Shares of BSY opened at $41.90 on Monday. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $57.19. The company has a market capitalization of $12.22 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. The stock has a fifty day moving average of $43.04 and a two-hundred day moving average of $46.37. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a $0.07 dividend. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Activity

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 directly 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.12% of the company’s stock.

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.