Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP increased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,860 shares of the company's stock after buying an additional 7,291 shares during the period. Bentley Systems comprises approximately 0.4% of Dark Forest Capital Management LP's investment portfolio, making the stock its 29th largest holding. Dark Forest Capital Management LP's holdings in Bentley Systems were worth $2,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Swedbank AB boosted its stake in Bentley Systems by 36.5% during the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company's stock worth $327,242,000 after purchasing an additional 1,873,029 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock valued at $262,209,000 after acquiring an additional 24,019 shares during the last quarter. Impax Asset Management Group plc lifted its stake in Bentley Systems by 41.9% in the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock worth $115,719,000 after purchasing an additional 736,369 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Bentley Systems by 10.2% during the 4th 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Bentley Systems by 1.5% in 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 purchasing an additional 15,372 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

Shares of BSY stock traded down $0.42 during midday trading on Monday, hitting $43.03. The company had a trading volume of 180,991 shares, compared to its average volume of 1,396,028. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 3.52 and a beta of 1.06. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company's 50 day simple moving average is $42.33 and its 200 day simple moving average is $45.93.

Bentley Systems Increases Dividend

The firm also recently declared 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 an increase from Bentley Systems's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. Bentley Systems's payout ratio is 38.36%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and lowered their price target for the company from $51.00 to $42.00 in a research report on Friday, February 28th. UBS Group initiated coverage on shares of Bentley Systems in a research report on Monday, March 31st. They set a "neutral" rating and a $48.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. KeyCorp decreased their price target on Bentley Systems from $63.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler cut their price objective on 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 given a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of "Moderate Buy" and an average target price of $52.70.

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.