Brown Brothers Harriman & Co. Purchases Shares of 1,789 Bentley Systems, Incorporated (NASDAQ:BSY)

Brown Brothers Harriman & Co. purchased a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,789 shares of the company’s stock, valued at approximately $84,000.

Several other institutional investors have also recently modified their holdings of BSY. Intech Investment Management LLC lifted its stake in Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after purchasing an additional 254 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Bentley Systems by 3.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after buying an additional 317 shares during the period. Private Trust Co. NA lifted its stake in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after acquiring an additional 378 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in 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 acquiring an additional 380 shares during the period. Finally, Park Avenue Securities LLC grew its position in Bentley Systems by 5.4% during the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $427,000 after acquiring an additional 467 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the transaction, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group assumed coverage on Bentley Systems in a research note on Monday. They set a “neutral” rating and a $48.00 price objective for the company. Piper Sandler cut their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. Finally, Robert W. Baird reduced their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.13.

Bentley Systems Stock Performance

Shares of BSY opened at $40.49 on Wednesday. The company has a 50-day simple moving average of $44.23 and a two-hundred day simple moving average of $47.03. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $11.81 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a one year low of $38.66 and a one year high of $57.19.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio (DPR) is presently 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.