Bentley Systems, Incorporated (NASDAQ:BSY) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 591.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 555,702 shares of the company’s stock after purchasing an additional 475,361 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.19% of Bentley Systems worth $26,446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BSY. Point72 Hong Kong Ltd acquired a new position in Bentley Systems during the third quarter worth approximately $30,000. Private Trust Co. NA grew its stake in shares of Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after buying an additional 378 shares during the period. Tobam acquired a new stake in shares of Bentley Systems during the 4th quarter worth $55,000. Tortoise Investment Management LLC raised its position in shares of Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock worth $78,000 after buying an additional 728 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in Bentley Systems in the third quarter valued at $110,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BSY. Piper Sandler dropped their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird dropped their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Stock Down 1.7 %

Shares of NASDAQ:BSY opened at $40.11 on Friday. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The company has a 50 day moving average of $45.49 and a two-hundred day moving average of $47.80. 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.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.70%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is presently 38.36%.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s 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 completion of the sale, the director now owns 16,703,876 shares in the company, valued at $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 is available through the SEC website. 21.12% of the stock is currently owned by insiders.

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.