Envestnet Asset Management Inc. Raises Stock Holdings in Bentley Systems, Incorporated $BSY

Envestnet Asset Management Inc. grew its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 954,867 shares of the company’s stock after acquiring an additional 51,883 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bentley Systems were worth $49,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Bentley Systems in the 3rd quarter worth $28,000. National Pension Service bought a new stake in shares of Bentley Systems in the 3rd quarter worth about $28,000. Allworth Financial LP increased its holdings in shares of Bentley Systems by 37.6% in the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after buying an additional 192 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Bentley Systems by 682.8% during the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after buying an additional 635 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Trading Up 3.8%

NASDAQ BSY opened at $34.44 on Tuesday. The stock has a market cap of $10.06 billion, a PE ratio of 41.00, a PEG ratio of 2.30 and a beta of 1.21. Bentley Systems, Incorporated has a 12 month low of $30.97 and a 12 month high of $59.25. The company’s 50-day moving average price is $38.69 and its 200-day moving average price is $46.76. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, December 4th. Bentley Systems’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BSY. BMO Capital Markets began coverage on Bentley Systems in a research report on Thursday, January 22nd. They issued an “outperform” rating and a $48.00 price target for the company. Piper Sandler lowered their price objective on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Royal Bank Of Canada cut their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, Barclays dropped their price objective on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

About Bentley Systems

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.