Mitsubishi UFJ Asset Management Co. Ltd. Has $5 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,178 shares of the company’s stock after buying an additional 713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bentley Systems were worth $4,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BSY. Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 15,372 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Bentley Systems in the fourth quarter valued at approximately $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 purchasing an additional 34,871 shares during the period. Bar Harbor Wealth Management acquired a new stake in Bentley Systems during the 4th quarter worth approximately $8,413,000. Finally, Needham Investment Management LLC bought a new stake in Bentley Systems in the 3rd quarter valued at $2,134,000. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 69,573 shares of the company’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 transaction, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group started coverage on Bentley Systems in a research report on Monday. They set a “neutral” rating and a $48.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price on the stock. Piper Sandler dropped their price target 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. Finally, Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. One equities research 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. According to data from MarketBeat, Bentley Systems currently has an average rating of “Hold” and a consensus target price of $55.13.

Bentley Systems Stock Up 2.9 %

NASDAQ BSY opened at $40.49 on Wednesday. The business has a fifty day moving average price of $44.23 and a two-hundred day moving average price of $47.03. The stock has a market capitalization of $11.81 billion, a PE ratio of 36.48, a PEG ratio of 3.52 and a beta of 1.04. 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 debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.69%. Bentley Systems’s dividend payout ratio (DPR) is 38.36%.

Bentley Systems 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.