Norden Group LLC Purchases 479 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Norden Group LLC grew its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,250 shares of the company’s stock after buying an additional 479 shares during the period. Norden Group LLC’s holdings in Bentley Systems were worth $292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in shares of Bentley Systems in the 3rd quarter worth approximately $30,000. Private Trust Co. NA boosted its holdings in Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after acquiring an additional 378 shares in the last quarter. Tobam purchased a new stake in shares of Bentley Systems in the fourth quarter worth $55,000. Anchor Investment Management LLC bought a new position in shares of Bentley Systems during the third quarter valued at $110,000. Finally, Quest Partners LLC purchased a new position in shares of Bentley Systems in the 3rd quarter worth about $221,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction that occurred on 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. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Price Performance

Shares of BSY opened at $42.22 on Wednesday. The firm has a fifty day simple moving average of $46.24 and a two-hundred day simple moving average of $48.17. The firm has a market cap of $12.31 billion, a PE ratio of 38.04, a P/E/G ratio of 3.52 and a beta of 1.03. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 1-year low of $41.96 and a 1-year high of $57.19.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is 38.36%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BSY. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday, February 25th. Robert W. Baird cut their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $51.00 to $42.00 in a report on Friday, February 28th. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.14.

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.