APG Asset Management US Inc. Invests $235,000 in Bentley Systems, Incorporated (NASDAQ:BSY)

APG Asset Management US Inc. acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,032 shares of the company’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after purchasing an additional 15,372 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Bentley Systems in the 4th quarter valued at about $809,000. Principal Financial Group Inc. boosted its holdings in shares of Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after acquiring an additional 34,871 shares during the period. Bar Harbor Wealth Management acquired a new position in Bentley Systems in the fourth quarter valued at $8,413,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Bentley Systems by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after buying an additional 97,950 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday. Robert W. Baird lowered their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Piper Sandler reduced 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 note on Wednesday, January 8th. Finally, The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price target for the stock from $51.00 to $42.00 in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.25.

Bentley Systems Stock Up 9.1 %

BSY stock opened at $42.15 on Thursday. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market cap of $12.29 billion, a P/E ratio of 37.97, a P/E/G ratio of 3.52 and a beta of 1.06. The company’s 50-day moving average price is $43.22 and its 200 day moving average price is $46.52.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a $0.07 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is presently 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.