Should You Invest in Bentley Systems, Incorporated (BSY)?

ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2500 Growth benchmark. On an absolute basis, the strategy gained in nine of the 10 sectors it was invested in the quarter. Industrials, health care, and consumer discretionary sectors were the leading contributors while communication services detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge SMID Cap Growth Strategy highlighted stocks like Bentley Systems, Incorporated (NASDAQ:BSY) in the Q4 2022 investor letter. Headquartered in Exton, Pennsylvania, Bentley Systems, Incorporated (NASDAQ:BSY) is an infrastructure engineering software solutions provider. On March 2, 2023, Bentley Systems, Incorporated (NASDAQ:BSY) stock closed at $41.71 per share. One-month return of Bentley Systems, Incorporated (NASDAQ:BSY) was 0.80%, and its shares gained 9.65% of their value over the last 52 weeks. Bentley Systems, Incorporated (NASDAQ:BSY) has a market capitalization of $12.114 billion.

ClearBridge SMID Cap Growth Strategy made the following comment about Bentley Systems, Incorporated (NASDAQ:BSY) in its Q4 2022 investor letter:

“We also initiated a position in Bentley Systems, Incorporated (NASDAQ:BSY), a maker of design and engineering software for engineering, construction and municipal and government customers. The company has accelerating end markets with innovative product development, strong pricing power and opportunities to expand their addressable markets by tailoring their product for small and medium businesses.”

Photo by ThisisEngineering RAEng on Unsplash

Bentley Systems, Incorporated (NASDAQ:BSY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Bentley Systems, Incorporated (NASDAQ:BSY) at the end of the fourth quarter which was 22 in the previous quarter.

We discussed Bentley Systems, Incorporated (NASDAQ:BSY) in another article and shared Artisan Partners’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.