Equitable Trust Co. Invests $463,000 in Bentley Systems, Incorporated (NASDAQ:BSY)

Equitable Trust Co. bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,910 shares of the company’s stock, valued at approximately $463,000.

Several other hedge funds and other institutional investors also recently modified their holdings 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 purchasing an additional 1,873,029 shares in the last quarter. Impax Asset Management Group plc purchased a new stake in shares of Bentley Systems in the 3rd quarter worth about $88,771,000. TimesSquare Capital Management LLC increased its stake in shares of Bentley Systems by 3.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company’s stock worth $58,998,000 after acquiring an additional 39,205 shares in the last quarter. Fiera Capital Corp purchased a new position in Bentley Systems during the 3rd quarter valued at about $42,773,000. Finally, Copeland Capital Management LLC boosted its stake in Bentley Systems by 60.9% during the third quarter. Copeland Capital Management LLC now owns 683,962 shares of the company’s stock worth $34,752,000 after acquiring an additional 258,992 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.7 %

NASDAQ:BSY opened at $46.63 on Wednesday. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 3.50 and a beta of 1.03. 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 company’s 50 day moving average price is $47.09 and its 200-day moving average price is $48.46. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.51%. Bentley Systems’s dividend payout ratio is 21.62%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

BSY has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler cut their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Bentley Systems Company 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.