Bentley Systems, Incorporated (NASDAQ:BSY) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 18.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,439,065 shares of the company's stock after buying an additional 228,502 shares during the period. Northern Trust Corp owned approximately 0.50% of Bentley Systems worth $67,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Bentley Systems by 1.5% during the fourth 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 last quarter. Proficio Capital Partners LLC purchased a new position in shares of Bentley Systems during the 4th quarter worth approximately $809,000. Principal Financial Group Inc. increased its holdings in Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock valued at $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management purchased a new stake in Bentley Systems in the fourth quarter valued at approximately $8,413,000. Finally, Bank of New York Mellon Corp lifted its stake in Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock worth $49,211,000 after purchasing an additional 97,950 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BSY shares. Robert W. Baird dropped their price objective on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. KeyCorp cut their price target on shares of Bentley Systems from $63.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities lowered their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a research note on Monday. UBS Group started coverage on shares of Bentley Systems in a research note on Monday, March 31st. They set a "neutral" rating and a $48.00 target price on the stock. Finally, Piper Sandler decreased 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.80.

Bentley Systems Price Performance

Bentley Systems stock opened at $43.77 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $41.99 and a 200-day simple moving average of $45.62. The stock has a market cap of $13.27 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $57.19.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.64%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems's payout ratio 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.

Want to see what other hedge funds are holding BSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bentley Systems, Incorporated (NASDAQ:BSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.