Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 31.1% during the 4th quarter, Holdings Channel reports. The fund owned 47,613 shares of the company’s stock after purchasing an additional 11,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bentley Systems were worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in BSY. Swedbank AB boosted its holdings in Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Bentley Systems by 94.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $584,000 after buying an additional 5,596 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in Bentley Systems by 2.2% during the third quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock worth $993,000 after buying an additional 428 shares in the last quarter. Stephens Inc. AR boosted its holdings in Bentley Systems by 14.4% during the third quarter. Stephens Inc. AR now owns 8,971 shares of the company’s stock worth $456,000 after buying an additional 1,130 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in Bentley Systems by 32.0% during the third quarter. Conestoga Capital Advisors LLC now owns 8,385 shares of the company’s stock worth $426,000 after buying an additional 2,035 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the sale, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $44.62 on Thursday. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The firm has a 50-day simple moving average of $46.61 and a 200-day simple moving average of $48.36. 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 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.