Sumitomo Mitsui Trust Group Inc. Acquires 33,312 Shares of Bentley Systems, Incorporated $BSY

Sumitomo Mitsui Trust Group Inc. grew its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 372,134 shares of the company’s stock after purchasing an additional 33,312 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bentley Systems were worth $14,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Trium Capital LLP boosted its holdings in Bentley Systems by 48.1% during the fourth quarter. Trium Capital LLP now owns 14,316 shares of the company’s stock worth $546,000 after buying an additional 4,651 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in Bentley Systems in the fourth quarter worth $1,760,000. Blue Trust Inc. boosted its position in shares of Bentley Systems by 741.7% during the fourth quarter. Blue Trust Inc. now owns 10,993 shares of the company’s stock worth $420,000 after purchasing an additional 9,687 shares in the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of Bentley Systems by 222.9% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 39,912 shares of the company’s stock valued at $1,523,000 after buying an additional 27,552 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Bentley Systems in the 4th quarter valued at $241,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 1.2%

NASDAQ BSY opened at $35.08 on Friday. Bentley Systems, Incorporated has a 52 week low of $30.83 and a 52 week high of $59.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50 day moving average price is $35.67 and its two-hundred day moving average price is $40.58. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.33 and a beta of 1.16.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The company had revenue of $391.58 million during the quarter, compared to analysts’ expectations of $381.79 million. During the same period last year, the business earned $0.21 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is 32.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BSY. Rosenblatt Securities dropped their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Barclays boosted their target price on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. UBS Group dropped their price target on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Oppenheimer cut their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Finally, Robert W. Baird set a $55.00 price objective on Bentley Systems in a research report on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Hold” and an average target price of $48.50.

About Bentley Systems

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.