Bentley Systems, Incorporated (NASDAQ:BSY) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 39.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,623 shares of the company's stock after purchasing an additional 15,807 shares during the quarter. Hsbc Holdings PLC's holdings in Bentley Systems were worth $2,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BSY. Private Trust Co. NA grew its stake in shares of Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after acquiring an additional 378 shares in the last quarter. Tobam acquired a new stake in Bentley Systems during the 4th quarter valued at approximately $55,000. Atala Financial Inc purchased a new stake in Bentley Systems during the 4th quarter worth approximately $55,000. Tortoise Investment Management LLC raised its position in shares of Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock valued at $78,000 after purchasing an additional 728 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Bentley Systems by 42.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock valued at $78,000 after buying an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

Bentley Systems stock traded up $0.82 during midday trading on Friday, reaching $43.66. 833,919 shares of the stock traded hands, compared to its average volume of 1,204,058. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $57.19. 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 firm has a market cap of $13.23 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 3.52 and a beta of 1.06. The firm has a fifty day moving average price of $42.01 and a two-hundred day moving average price of $45.74.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. 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 annualized dividend and a dividend yield of 0.64%. Bentley Systems's payout ratio is currently 38.36%.

Analysts Set New Price Targets

Several analysts have issued reports on BSY shares. Piper Sandler reduced their target price on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Mizuho reduced their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group downgraded shares of Bentley Systems from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Oppenheimer raised shares of Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Bentley Systems has an average rating of "Moderate Buy" and an average price target of $52.70.

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.