Impax Asset Management Group plc Cuts Stock Holdings in Bentley Systems, Incorporated $BSY

Impax Asset Management Group plc decreased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 17.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,943,672 shares of the company’s stock after selling 420,297 shares during the period. Impax Asset Management Group plc owned about 0.67% of Bentley Systems worth $99,207,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Krilogy Financial LLC increased its position in Bentley Systems by 26.0% during the third quarter. Krilogy Financial LLC now owns 15,594 shares of the company’s stock valued at $756,000 after acquiring an additional 3,215 shares during the last quarter. MQS Management LLC purchased a new position in Bentley Systems during the third quarter valued at approximately $335,000. Compagnie Lombard Odier SCmA bought a new position in Bentley Systems in the 3rd quarter worth $636,000. AdvisorShares Investments LLC bought a new position in shares of Bentley Systems in the third quarter worth about $412,000. Finally, Bessemer Group Inc. grew its holdings in Bentley Systems by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock valued at $127,986,000 after buying an additional 534,776 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a research report on Thursday, November 6th. Piper Sandler dropped their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. BMO Capital Markets assumed coverage on Bentley Systems in a research report on Thursday, January 22nd. They issued an “outperform” rating and a $48.00 price objective on the stock. 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 research report on Tuesday, January 20th. Finally, Robert W. Baird set a $55.00 price target on Bentley Systems in a research note on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Bentley Systems Stock Performance

BSY stock opened at $34.79 on Wednesday. The company has a 50-day simple moving average of $38.54 and a 200 day simple moving average of $46.60. The company has a market capitalization of $10.16 billion, a P/E ratio of 41.42, a PEG ratio of 2.38 and a beta of 1.21. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. Bentley Systems, Incorporated has a fifty-two week low of $30.97 and a fifty-two week high of $59.25.

Bentley Systems Dividend Announcement

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