Aigen Investment Management LP Grows Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Aigen Investment Management LP increased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 636.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,876 shares of the company’s stock after buying an additional 28,414 shares during the quarter. Aigen Investment Management LP’s holdings in Bentley Systems were worth $1,535,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of Bentley Systems by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock valued at $468,000 after buying an additional 378 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Bentley Systems by 4.3% during the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after purchasing an additional 380 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Bentley Systems by 5.4% during the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock valued at $427,000 after buying an additional 467 shares in the last quarter. Finally, Norden Group LLC boosted its holdings in Bentley Systems by 8.3% in the 4th quarter. Norden Group LLC now owns 6,250 shares of the company’s stock worth $292,000 after buying an additional 479 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company’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 sale, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 21.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BSY. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and decreased their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Robert W. Baird dropped their price target 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday, February 25th. Finally, Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Price Performance

Bentley Systems stock opened at $42.22 on Wednesday. Bentley Systems, Incorporated has a 52-week low of $41.96 and a 52-week high of $57.19. The company has a market cap of $12.31 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 3.52 and a beta of 1.03. The firm’s fifty day moving average is $46.24 and its 200 day moving average is $48.17. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be 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 is Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.66%. Bentley Systems’s dividend payout ratio (DPR) is presently 38.36%.

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.