Renaissance Technologies LLC Increases Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Renaissance Technologies LLC lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 526.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 274,800 shares of the company’s stock after acquiring an additional 230,900 shares during the quarter. Renaissance Technologies LLC owned 0.09% of Bentley Systems worth $12,833,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Private Trust Co. NA grew its position in shares of Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after acquiring an additional 378 shares during the period. Tobam bought a new position in Bentley Systems during the fourth quarter valued at $55,000. Atala Financial Inc bought a new position in Bentley Systems during the fourth quarter valued at $55,000. Tortoise Investment Management LLC increased its position in Bentley Systems by 76.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock worth $78,000 after buying an additional 728 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Bentley Systems by 42.0% in the fourth 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 period. 44.16% of the stock is currently owned by institutional investors.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction on Friday, January 24th. The shares were 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. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 21.12% of the stock is owned by insiders.

Bentley Systems Trading Down 0.9 %

Shares of BSY stock opened at $42.62 on Wednesday. The company has a market capitalization of $12.43 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The business’s fifty day moving average is $42.88 and its 200 day moving average is $46.29. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.66%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio (DPR) is presently 38.36%.

Analyst Ratings Changes

BSY has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Oppenheimer raised 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 research report on Thursday, April 10th. Piper Sandler cut their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Mizuho lowered their target price on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, UBS Group assumed coverage on Bentley Systems in a report on Monday, March 31st. They issued a “neutral” rating and a $48.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.56.

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.