KLP Kapitalforvaltning AS Purchases Shares of 50,600 Bentley Systems, Incorporated (NASDAQ:BSY)

KLP Kapitalforvaltning AS acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,600 shares of the company’s stock, valued at approximately $2,363,000.

Several other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC raised its position in Bentley Systems by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after buying an additional 254 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Bentley Systems by 3.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after purchasing an additional 317 shares during the last quarter. Private Trust Co. NA lifted its position in Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after purchasing an additional 378 shares during the period. Venturi Wealth Management LLC boosted its holdings in Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after purchasing an additional 380 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in Bentley Systems by 5.4% in the fourth quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock valued at $427,000 after purchasing an additional 467 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Robert W. Baird decreased their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.14.

Insiders Place Their Bets

In other Bentley Systems 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 value of $53,372.16. Following the completion of the sale, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.12% of the stock is currently owned by insiders.

Bentley Systems Trading Down 4.3 %

NASDAQ BSY opened at $40.36 on Friday. Bentley Systems, Incorporated has a 52 week low of $39.98 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 stock has a market capitalization of $11.77 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The firm has a 50 day moving average of $44.58 and a two-hundred day moving average of $47.22.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 annualized dividend and a yield of 0.69%. Bentley Systems’s payout ratio is 38.36%.

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.