Bentley Systems, Incorporated (NASDAQ:BSY) Shares Purchased by Montanaro Asset Management Ltd

Montanaro Asset Management Ltd boosted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 331,416 shares of the company’s stock after acquiring an additional 26,741 shares during the quarter. Bentley Systems comprises about 3.0% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 14th biggest holding. Montanaro Asset Management Ltd owned 0.11% of Bentley Systems worth $16,839,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BSY. Fiera Capital Corp bought a new position in shares of Bentley Systems in the third quarter valued at $42,773,000. Portside Wealth Group LLC grew its holdings in shares of Bentley Systems by 9.1% in the 3rd quarter. Portside Wealth Group LLC now owns 13,203 shares of the company’s stock worth $671,000 after acquiring an additional 1,101 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after purchasing an additional 34,871 shares during the period. Impax Asset Management Group plc purchased a new stake in shares of Bentley Systems during the third quarter valued at $88,771,000. Finally, Cannon Global Investment Management LLC boosted its position in shares of Bentley Systems by 47.7% in the 3rd quarter. Cannon Global Investment Management LLC now owns 22,000 shares of the company’s stock valued at $1,118,000 after purchasing an additional 7,100 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Down 4.9 %

Bentley Systems stock opened at $48.58 on Friday. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $14.12 billion, a PE ratio of 42.61, a P/E/G ratio of 4.17 and a beta of 1.04. The firm’s 50 day moving average price is $49.48 and its two-hundred day moving average price is $50.38.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 21.05%.

Analyst Ratings Changes

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

Insider Buying and Selling

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

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.