Kayne Anderson Rudnick Investment Management LLC Reduces Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,006,945 shares of the company's stock after selling 142,721 shares during the period. Bentley Systems accounts for approximately 1.7% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 7th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.51% of Bentley Systems worth $747,524,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in 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 worth $49,161,000 after buying an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Bentley Systems during the 4th quarter worth $809,000. Principal Financial Group Inc. lifted its position in shares of Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock worth $10,396,000 after buying an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management acquired a new stake in Bentley Systems in the fourth quarter valued at about $8,413,000. Finally, Bank of New York Mellon Corp raised 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 acquiring an additional 97,950 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Mizuho lowered their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and dropped their target price for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Piper Sandler cut their target price on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, Oppenheimer upgraded shares of Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bentley Systems has an average rating of "Moderate Buy" and an average target price of $52.70.

Bentley Systems Stock Down 0.6 %

BSY stock traded down $0.25 during trading on Friday, reaching $43.66. 309,283 shares of the stock were exchanged, compared to its average volume of 1,200,239. 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 twelve month low of $36.51 and a twelve month high of $57.19. The firm's 50 day moving average is $42.41 and its 200 day moving average is $46.01. The firm has a market cap of $12.71 billion, a P/E ratio of 39.30, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06.

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 issued a dividend of $0.07 per share. This is a boost 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 0.64%. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems's dividend payout ratio (DPR) is currently 38.36%.

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.