Bentley Systems, Incorporated $BSY Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 17.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,943,672 shares of the company’s stock after selling 420,297 shares during the quarter. Impax Asset Management Group plc’s holdings in Bentley Systems were worth $99,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BSY. Geneos Wealth Management Inc. lifted its holdings in shares of 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 during the last quarter. Maryland State Retirement & Pension System increased its stake in Bentley Systems by 16.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 7,650 shares of the company’s stock worth $413,000 after purchasing an additional 1,101 shares in the last quarter. Blair William & Co. IL raised its holdings in Bentley Systems by 6.2% during the 2nd quarter. Blair William & Co. IL now owns 19,245 shares of the company’s stock worth $1,039,000 after buying an additional 1,116 shares during the period. Blue Trust Inc. lifted its stake in Bentley Systems by 19.3% during the second quarter. Blue Trust Inc. now owns 1,305 shares of the company’s stock valued at $70,000 after buying an additional 211 shares in the last quarter. Finally, Aberdeen Group plc purchased a new stake in Bentley Systems during the second quarter valued at about $201,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BSY shares. JPMorgan Chase & Co. dropped their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Barclays decreased 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. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, January 21st. Rosenblatt Securities restated a “buy” rating and issued a $58.00 target price on shares of Bentley Systems in a report on Thursday, November 6th. Finally, Robert W. Baird set a $55.00 target price on Bentley Systems in a research report on Wednesday, January 7th. Eight 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $34.79 on Wednesday. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 2.38 and a beta of 1.21. Bentley Systems, Incorporated has a 1 year low of $30.97 and a 1 year high of $59.25. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $38.54 and a 200 day simple moving average of $46.60.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend 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 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.