TimesSquare Capital Management LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 951,055 shares of the company’s stock after selling 30,320 shares during the quarter. TimesSquare Capital Management LLC owned 0.33% of Bentley Systems worth $36,297,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Bentley Systems by 10.7% during the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after buying an additional 1,792,591 shares during the period. Swedbank AB boosted its stake in Bentley Systems by 18.5% during the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after buying an additional 1,338,706 shares during the period. William Blair Investment Management LLC purchased a new position in Bentley Systems during the third quarter worth about $150,903,000. Bessemer Group Inc. boosted its stake in Bentley Systems by 27.4% during the third quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock worth $127,986,000 after buying an additional 534,776 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in Bentley Systems by 12.1% during the fourth quarter. Impax Asset Management Group plc now owns 2,178,670 shares of the company’s stock worth $83,149,000 after buying an additional 234,998 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.
Bentley Systems Trading Up 3.9%
NASDAQ BSY opened at $33.31 on Tuesday. The firm has a 50 day simple moving average of $34.88 and a 200-day simple moving average of $37.88. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems, Incorporated has a one year low of $30.52 and a one year high of $59.25. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 2.02 and a beta of 1.01.
Bentley Systems Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were paid a $0.07 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s payout ratio is currently 31.82%.
Analyst Upgrades and Downgrades
BSY has been the subject of several recent research reports. Barclays raised their price objective on shares of Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Zacks Research raised shares of Bentley Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $42.00 to $45.00 in a research note on Friday, May 8th. Mizuho lowered their price objective on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, UBS Group lowered their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.
Get Our Latest Research Report on BSY
Bentley Systems Profile
Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.
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