Bentley Systems, Incorporated $BSY Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 10.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,607,657 shares of the company’s stock after buying an additional 1,792,591 shares during the period. Vanguard Group Inc. owned 0.06% of Bentley Systems worth $957,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSY. Swedbank AB grew its position in shares of Bentley Systems by 2.3% in the 3rd quarter. Swedbank AB now owns 7,250,495 shares of the company’s stock worth $373,255,000 after acquiring an additional 160,594 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bentley Systems by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock valued at $173,877,000 after acquiring an additional 155,078 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Bentley Systems by 207.6% during the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after purchasing an additional 2,066,725 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Bentley Systems by 27.4% in the third quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock worth $127,986,000 after purchasing an additional 534,776 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in Bentley Systems in the third quarter worth $122,028,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on BSY shares. Robert W. Baird set a $55.00 price target on shares of Bentley Systems in a report on Wednesday, January 7th. Barclays cut their target price on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Monday, January 12th. Royal Bank Of Canada lowered their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price target on shares of Bentley Systems in a report on Thursday, November 6th. Finally, BMO Capital Markets initiated coverage on Bentley Systems in a research note on Thursday, January 22nd. They set an “outperform” rating and a $48.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.00.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $33.84 on Friday. The firm’s 50 day moving average is $37.29 and its two-hundred day moving average is $45.34. The firm has a market capitalization of $9.88 billion, a P/E ratio of 40.29, a PEG ratio of 2.34 and a beta of 1.21. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. Bentley Systems, Incorporated has a 52 week low of $30.97 and a 52 week high of $59.25.

Bentley Systems Company 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.