Montanaro Asset Management Ltd Has $16.84 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Montanaro Asset Management Ltd lifted its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,416 shares of the company’s stock after acquiring an additional 26,741 shares during the period. Bentley Systems makes up 3.0% of Montanaro Asset Management Ltd’s portfolio, making the stock its 14th largest holding. Montanaro Asset Management Ltd’s holdings in Bentley Systems were worth $16,839,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BSY. Allspring Global Investments Holdings LLC boosted its position in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares in the last quarter. GAMMA Investing LLC increased its position in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after acquiring an additional 273 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after acquiring an additional 685 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its position in shares of Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Insider Activity

In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the sale, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the transaction, the director now owns 12,213,248 shares in the company, valued at $590,754,805.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $16,168,176 in the last ninety days. 21.12% of the stock is owned by insiders.

Bentley Systems Stock Down 4.9 %

Shares of Bentley Systems stock opened at $48.58 on Friday. The business has a fifty day simple moving average of $49.48 and a 200 day simple moving average of $50.38. The stock has a market cap of $14.12 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 4.17 and a beta of 1.04. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Bentley Systems’s payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Piper Sandler boosted their target price on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Friday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $59.50.

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.