Johnson Investment Counsel Inc. Lowers Stock Holdings in Bentley Systems, Incorporated $BSY

Johnson Investment Counsel Inc. lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 24.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,953 shares of the company’s stock after selling 16,428 shares during the period. Johnson Investment Counsel Inc.’s holdings in Bentley Systems were worth $2,675,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

BSY has been the topic of several recent research reports. Oppenheimer reduced their target price on shares of Bentley Systems from $65.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, January 20th. JPMorgan Chase & Co. cut 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. Royal Bank Of Canada reduced their price objective on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, January 21st. Finally, Robert W. Baird set a $55.00 target price on Bentley Systems in a report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bentley Systems has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Bentley Systems Stock Performance

Bentley Systems stock opened at $33.92 on Thursday. 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 firm has a 50-day moving average of $38.37 and a 200-day moving average of $46.51. The firm has a market cap of $9.91 billion, a P/E ratio of 40.38, a P/E/G ratio of 2.41 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.

Bentley Systems Announces Dividend

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

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.