Pictet Asset Management Holding SA Increases Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Pictet Asset Management Holding SA grew its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 5,614,750 shares of the company’s stock after purchasing an additional 24,019 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Bentley Systems were worth $262,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after buying an additional 15,372 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Bentley Systems in the fourth quarter valued at about $809,000. Principal Financial Group Inc. increased its stake 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 acquiring an additional 34,871 shares during the period. Bar Harbor Wealth Management purchased a new position in Bentley Systems during the fourth quarter worth about $8,413,000. Finally, Needham Investment Management LLC acquired a new stake in Bentley Systems in the third quarter valued at about $2,134,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Activity

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated 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 approximately $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BSY shares. Robert W. Baird dropped their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Piper Sandler reduced their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Trading Down 4.3 %

Shares of BSY stock opened at $40.36 on Friday. The stock has a market cap of $11.77 billion, a P/E ratio of 36.36, a P/E/G ratio of 3.52 and a beta of 1.04. 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, Incorporated has a fifty-two week low of $39.98 and a fifty-two week high of $57.19. The business has a fifty day simple moving average of $44.58 and a 200-day simple moving average of $47.22.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were given a dividend of $0.07 per share. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems’s payout ratio is currently 38.36%.

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.