Renaissance Technologies LLC Acquires 230,900 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Renaissance Technologies LLC grew its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 526.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 274,800 shares of the company's stock after buying an additional 230,900 shares during the period. Renaissance Technologies LLC owned approximately 0.09% of Bentley Systems worth $12,833,000 at the end of the most recent quarter.

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

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares of the company's stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.12% of the stock is owned by insiders.

Bentley Systems Stock Down 1.5 %

BSY stock traded down $0.67 during midday trading on Monday, reaching $42.52. 121,716 shares of the company's stock traded hands, compared to its average volume of 1,204,425. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 38.33, a P/E/G ratio of 3.52 and a beta of 1.06. The firm's fifty day moving average price is $42.70 and its 200-day moving average price is $46.12. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's payout ratio is 38.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and cut their target price for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Robert W. Baird lowered 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 decreased their price objective on Bentley Systems from $63.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Oppenheimer upgraded shares of Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 price target for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.