Adage Capital Partners GP L.L.C. Has $700,000 Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Adage Capital Partners GP L.L.C. boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 50.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 15,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Bentley Systems were worth $700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSY. Private Trust Co. NA grew its stake 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 worth $47,000 after purchasing an additional 378 shares during the period. Tobam bought a new position in Bentley Systems during the fourth quarter worth about $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems during the 4th quarter worth about $55,000. Tortoise Investment Management LLC increased its stake in shares of Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after acquiring an additional 728 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Bentley Systems by 42.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company’s stock valued at $78,000 after acquiring an additional 495 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BSY shares. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Piper Sandler lowered their price objective on shares of 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 reduced their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Mizuho lowered their price target on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, UBS Group began coverage on Bentley Systems in a report on Monday, March 31st. They set a “neutral” rating and a $48.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.70.

Bentley Systems Stock Up 0.0 %

Shares of Bentley Systems stock opened at $43.13 on Wednesday. The firm has a market cap of $13.07 billion, a PE ratio of 38.86, a P/E/G ratio of 3.52 and a beta of 1.06. The business’s 50 day simple moving average is $42.18 and its 200 day simple moving average is $45.86. 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, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. Bentley Systems’s dividend payout ratio (DPR) is 38.36%.

About Bentley Systems

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.