Impax Asset Management Group plc Grows Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Impax Asset Management Group plc increased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 41.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,493,059 shares of the company’s stock after buying an additional 736,369 shares during the period. Impax Asset Management Group plc owned about 0.86% of Bentley Systems worth $115,719,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB raised its stake in Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Bentley Systems by 291.0% in the 3rd quarter. Blue Trust Inc. now owns 2,682 shares of the company’s stock valued at $132,000 after acquiring an additional 1,996 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Bentley Systems during the 3rd quarter valued at approximately $59,400,000. Forsta AP Fonden lifted its stake in Bentley Systems by 2.0% during the third quarter. Forsta AP Fonden now owns 104,300 shares of the company’s stock worth $5,299,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Bentley Systems by 94.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $584,000 after purchasing an additional 5,596 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

BSY has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Finally, Piper Sandler reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Bentley Systems Price Performance

NASDAQ:BSY opened at $45.59 on Monday. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a market cap of $13.25 billion, a P/E ratio of 41.07, a PEG ratio of 3.52 and a beta of 1.03. The business’s 50-day moving average price is $46.75 and its 200 day moving average price is $48.42.

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.