Tower Research Capital LLC TRC Increases Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Tower Research Capital LLC TRC grew its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 568.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,268 shares of the company’s stock after acquiring an additional 6,181 shares during the period. Tower Research Capital LLC TRC’s holdings in Bentley Systems were worth $339,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock worth $49,161,000 after buying an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Bentley Systems in the 4th quarter worth approximately $809,000. Principal Financial Group Inc. boosted its holdings in shares of Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management purchased a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $8,413,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Bentley Systems by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after purchasing an additional 97,950 shares during the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSY has been the topic of several analyst reports. KeyCorp reduced their price target on shares of Bentley Systems from $63.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. UBS Group started coverage on shares of Bentley Systems in a report on Monday, March 31st. They issued a “neutral” rating and a $48.00 price objective on the stock. Mizuho lowered their target price on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Oppenheimer raised shares of Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.70.

Bentley Systems Stock Down 0.3 %

Shares of BSY opened at $42.84 on Friday. The stock has a market capitalization of $12.98 billion, a PE ratio of 38.59, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The company’s 50-day simple moving average is $42.05 and its 200-day simple moving average is $45.78.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is currently 38.36%.

Bentley Systems Profile

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 engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.