Groupama Asset Managment Raises Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Groupama Asset Managment lifted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,059 shares of the company’s stock after purchasing an additional 3,662 shares during the period. Groupama Asset Managment’s holdings in Bentley Systems were worth $859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB increased its stake in Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock worth $327,242,000 after buying an additional 1,873,029 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after purchasing an additional 736,369 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Bentley Systems by 591.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock valued at $26,446,000 after purchasing an additional 475,361 shares during the period. LBP AM SA bought a new position in Bentley Systems in the 4th quarter worth approximately $13,591,000. Finally, Weiss Asset Management LP purchased a new stake in Bentley Systems during the 3rd quarter valued at approximately $10,501,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

NASDAQ BSY opened at $41.13 on Thursday. The business’s 50 day moving average price is $44.12 and its 200-day moving average price is $46.99. Bentley Systems, Incorporated has a fifty-two week low of $38.66 and a fifty-two week high of $57.19. The company has a market cap of $11.99 billion, a P/E ratio of 37.05, a P/E/G ratio of 3.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.68%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is currently 38.36%.

Insider Transactions at Bentley Systems

In related 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 directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of research reports. 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. started coverage on Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and cut their price target for the company from $51.00 to $42.00 in a report on Friday, February 28th. Finally, Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.13.

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.