Valmark Advisers Inc. Takes $2.75 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Valmark Advisers Inc. acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 58,920 shares of the company’s stock, valued at approximately $2,752,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BSY. Clear Harbor Asset Management LLC boosted its holdings in Bentley Systems by 1.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock worth $779,000 after acquiring an additional 220 shares during the period. CIBC Asset Management Inc boosted its holdings in Bentley Systems by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after acquiring an additional 378 shares during the period. Diversify Wealth Management LLC boosted its holdings in Bentley Systems by 2.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock worth $993,000 after acquiring an additional 428 shares during the period. Park Avenue Securities LLC boosted its holdings in Bentley Systems by 5.4% in the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $427,000 after acquiring an additional 467 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems during the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $47.25 on Monday. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The firm has a market capitalization of $13.74 billion, a PE ratio of 42.57, a PEG ratio of 3.50 and a beta of 1.03. The business’s 50 day moving average is $46.84 and its 200-day moving average is $48.41. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s payout ratio is presently 21.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler reduced their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.12% of the stock is owned by insiders.

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.