EverSource Wealth Advisors LLC Grows Position in Bentley Systems, Incorporated (NASDAQ:BSY)

EverSource Wealth Advisors LLC raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,035 shares of the company’s stock after purchasing an additional 317 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Bentley Systems were worth $469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Bentley Systems in the 4th quarter valued at approximately $809,000. Principal Financial Group Inc. grew its stake in shares of Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management purchased a new position in shares of Bentley Systems in the 4th quarter valued at approximately $8,413,000. Needham Investment Management LLC purchased a new position in shares of Bentley Systems in the 3rd quarter valued at approximately $2,134,000. Finally, Mirabella Financial Services LLP grew its stake in shares of Bentley Systems by 1,155.0% in the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after purchasing an additional 92,768 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of BSY stock opened at $41.44 on Friday. The stock has a fifty day moving average price of $45.37 and a 200 day moving average price of $47.74. The stock has a market cap of $12.08 billion, a PE ratio of 37.33, a P/E/G 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 quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.68%. Bentley Systems’s payout ratio is currently 38.36%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 21.12% of the stock is currently owned by insiders.

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.