EverSource Wealth Advisors LLC Raises Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

EverSource Wealth Advisors LLC raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,035 shares of the company’s stock after buying an additional 317 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Bentley Systems were worth $469,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Swedbank AB lifted its stake in shares of Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after purchasing an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Bentley Systems by 41.9% in the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after purchasing an additional 736,369 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bentley Systems by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after purchasing an additional 97,950 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Bentley Systems by 1.5% in the 4th 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 last quarter. Finally, Fiera Capital Corp lifted its stake in shares of Bentley Systems by 13.2% in the 4th quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock valued at $44,517,000 after purchasing an additional 111,433 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer lowered Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Robert W. Baird decreased their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Bentley Systems Price Performance

BSY stock opened at $41.44 on Friday. 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 $12.08 billion, a P/E ratio of 37.33, a P/E/G ratio of 3.52 and a beta of 1.04. The business’s 50-day moving average is $45.37 and its two-hundred day moving average is $47.74. Bentley Systems, Incorporated has a 1 year low of $39.98 and a 1 year high of $57.19.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of the 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 transaction, the director now owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 21.12% of the company’s stock.

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.