Mitsubishi UFJ Trust & Banking Corp Raises Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSYGet Rating) by 5.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 99,562 shares of the company’s stock after purchasing an additional 4,869 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bentley Systems were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Swiss National Bank grew its holdings in shares of Bentley Systems by 8.5% in the 2nd quarter. Swiss National Bank now owns 826,800 shares of the company’s stock worth $27,532,000 after acquiring an additional 64,500 shares during the period. Pictet Asset Management SA grew its holdings in shares of Bentley Systems by 395.3% in the 2nd quarter. Pictet Asset Management SA now owns 401,516 shares of the company’s stock worth $13,371,000 after acquiring an additional 320,453 shares during the period. Walleye Capital LLC acquired a new stake in Bentley Systems during the 2nd quarter valued at $275,000. TownSquare Capital LLC grew its holdings in Bentley Systems by 58.4% during the 2nd quarter. TownSquare Capital LLC now owns 33,237 shares of the company’s stock valued at $1,107,000 after buying an additional 12,259 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Bentley Systems by 1.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 137,980 shares of the company’s stock valued at $4,595,000 after buying an additional 1,804 shares during the last quarter. 35.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Gregory S. Bentley sold 1,668 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $36.00, for a total value of $60,048.00. Following the transaction, the chief executive officer now directly owns 8,634,484 shares of the company’s stock, valued at approximately $310,841,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gregory S. Bentley sold 1,668 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $36.00, for a total value of $60,048.00. Following the transaction, the chief executive officer now directly owns 8,634,484 shares of the company’s stock, valued at approximately $310,841,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barry J. Bentley sold 39,286 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $37.95, for a total value of $1,490,903.70. Following the completion of the transaction, the director now directly owns 13,344,171 shares in the company, valued at $506,411,289.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 365,790 shares of company stock valued at $13,786,454. 22.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TheStreet upgraded Bentley Systems from a “d+” rating to a “c-” rating in a report on Friday, August 12th. Rosenblatt Securities increased their target price on Bentley Systems from $37.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Mizuho increased their target price on Bentley Systems from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Griffin Securities reiterated a “hold” rating on shares of Bentley Systems in a report on Wednesday, August 10th. Finally, Royal Bank of Canada decreased their price objective on Bentley Systems from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $44.89.

Bentley Systems Price Performance

BSY stock opened at $38.54 on Friday. Bentley Systems, Incorporated has a 52-week low of $26.32 and a 52-week high of $57.19. The stock’s fifty day simple moving average is $34.18 and its 200-day simple moving average is $35.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 65.32, a price-to-earnings-growth ratio of 6.78 and a beta of 1.20.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 30th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, November 29th. Bentley Systems’s dividend payout ratio (DPR) is currently 20.34%.

About Bentley Systems

(Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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