Envestnet Asset Management Inc. Acquires 51,883 Shares of Bentley Systems, Incorporated $BSY

Envestnet Asset Management Inc. grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 954,867 shares of the company’s stock after acquiring an additional 51,883 shares during the period. Envestnet Asset Management Inc. owned 0.33% of Bentley Systems worth $49,157,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BSY. Geneos Wealth Management Inc. raised its holdings in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the period. Baillie Gifford & Co. bought a new stake in Bentley Systems during the third quarter valued at about $28,000. National Pension Service purchased a new stake in Bentley Systems in the third quarter worth about $28,000. Allworth Financial LP raised its stake in shares of Bentley Systems by 37.6% in the second quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after buying an additional 192 shares during the period. Finally, Assetmark Inc. raised its stake in shares of Bentley Systems by 682.8% in the second quarter. Assetmark Inc. now owns 728 shares of the company’s stock worth $39,000 after buying an additional 635 shares during the period. Institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BSY shares. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a research note on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, January 21st. Piper Sandler lowered their target price on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Oppenheimer cut their price target on Bentley Systems from $65.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, January 20th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $34.44 on Tuesday. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 41.00, a P/E/G ratio of 2.30 and a beta of 1.21. The firm has a fifty day moving average price of $38.69 and a 200 day moving average price of $46.76. Bentley Systems, Incorporated has a fifty-two week low of $30.97 and a fifty-two week high of $59.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is presently 33.33%.

Bentley Systems Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.