Brown Brothers Harriman & Co. Makes New Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Brown Brothers Harriman & Co. purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,789 shares of the company’s stock, valued at approximately $84,000.

A number of other hedge funds also recently bought and sold shares of BSY. Swedbank AB raised its holdings in Bentley Systems by 36.5% in 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 during the last quarter. Pictet Asset Management Holding SA raised its holdings in Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after acquiring an additional 24,019 shares during the last quarter. Impax Asset Management Group plc lifted its position in Bentley Systems by 41.9% in 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in Bentley Systems by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after purchasing an additional 97,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock worth $49,161,000 after purchasing an additional 15,372 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

BSY has been the topic of several recent analyst reports. Robert W. Baird dropped their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group lowered shares of 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 research note on Friday, February 28th. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Piper Sandler cut their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group began coverage on Bentley Systems in a report on Monday. They set a “neutral” rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.13.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 1,152 shares of the firm’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 value 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. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Price Performance

Bentley Systems stock opened at $40.49 on Wednesday. Bentley Systems, Incorporated has a 52-week low of $38.66 and a 52-week high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm’s fifty day moving average is $44.23 and its 200 day moving average is $47.03. The company has a market cap 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 firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors 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. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.69%. Bentley Systems’s dividend payout ratio (DPR) is presently 38.36%.

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.