JPMorgan Chase & Co. Boosts Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

JPMorgan Chase & Co. lifted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 581,614 shares of the company’s stock after purchasing an additional 2,479 shares during the quarter. JPMorgan Chase & Co. owned 0.23% of Bentley Systems worth $23,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSY. Artisan Partners Limited Partnership boosted its holdings in shares of Bentley Systems by 1,001.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,718,703 shares of the company’s stock worth $69,625,000 after purchasing an additional 1,562,717 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Bentley Systems by 15,065.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,284,486 shares of the company’s stock valued at $52,034,000 after acquiring an additional 1,276,016 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Bentley Systems in the 3rd quarter valued at about $11,776,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Bentley Systems by 37.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,372,737 shares of the company’s stock valued at $55,610,000 after acquiring an additional 371,455 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Bentley Systems by 380.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 325,454 shares of the company’s stock valued at $13,184,000 after acquiring an additional 257,764 shares during the last quarter. Hedge funds and other institutional investors own 4.85% of the company’s stock.

In other Bentley Systems news, major shareholder Richard P. Bentley sold 173,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $47.02, for a total transaction of $8,134,460.00. Also, major shareholder Richard P. Bentley sold 122,552 shares of the company’s stock in a transaction that occurred on Wednesday, April 7th. The stock was sold at an average price of $48.82, for a total value of $5,982,988.64. Following the transaction, the insider now owns 1,186,360 shares in the company, valued at approximately $57,918,095.20. The disclosure for this sale can be found here. Insiders have sold a total of 473,375 shares of company stock worth $22,167,651 in the last quarter.

BSY opened at $48.99 on Friday. The firm’s 50 day simple moving average is $45.68. The company has a debt-to-equity ratio of 82.19, a current ratio of 0.80 and a quick ratio of 0.80. Bentley Systems, Incorporated has a one year low of $27.00 and a one year high of $54.62.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Monday, March 1st. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $219.60 million for the quarter, compared to the consensus estimate of $212.80 million. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 24th. Shareholders of record on Wednesday, March 10th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%.

A number of equities research analysts have recently weighed in on BSY shares. Mizuho boosted their target price on Bentley Systems from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, March 3rd. KeyCorp raised Bentley Systems from a “sector weight” rating to an “overweight” rating and set a $52.00 target price for the company in a research note on Monday, March 15th. Finally, Zacks Investment Research raised Bentley Systems from a “sell” rating to a “hold” rating in a research note on Monday, March 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $43.43.

Bentley Systems Profile

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

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