Plato Investment Management Ltd Makes New $447,000 Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Plato Investment Management Ltd bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,529 shares of the company’s stock, valued at approximately $447,000.

Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its position in 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 purchasing an additional 378 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after buying an additional 378 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Bentley Systems by 4.3% during the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after buying an additional 380 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Bentley Systems by 5.4% during the fourth quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock valued at $427,000 after acquiring an additional 467 shares in the last quarter. Finally, Norden Group LLC raised 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 acquiring an additional 479 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on BSY. The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and cut their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Piper Sandler decreased their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird lowered their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. assumed 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.14.

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 dated 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 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 filing with the SEC, which is available through this hyperlink. 21.12% of the stock is owned by insiders.

Bentley Systems Stock Performance

BSY opened at $42.22 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 12-month low of $41.96 and a 12-month 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 company’s 50 day moving average is $46.24 and its 200 day moving average is $48.17.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.66%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s dividend payout ratio is 38.36%.

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.