Janney Montgomery Scott LLC reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) by 25.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,062 shares of the company’s stock after selling 39,239 shares during the period. Janney Montgomery Scott LLC’s holdings in Bentley Systems were worth $3,936,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Swedbank AB increased its position in Bentley Systems by 18.5% in the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after buying an additional 1,338,706 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock valued at $163,703,000 after buying an additional 2,803,241 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Bentley Systems by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock valued at $132,060,000 after buying an additional 216,257 shares during the period. Bank of New York Mellon Corp increased its stake in Bentley Systems by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock valued at $121,584,000 after acquiring an additional 259,780 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in Bentley Systems by 12.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,178,670 shares of the company’s stock valued at $83,149,000 after acquiring an additional 234,998 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on BSY. Mizuho decreased their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Bank of America assumed coverage on Bentley Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective for the company. Barclays dropped their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 30th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.54.
Bentley Systems Stock Up 0.6%
Shares of NASDAQ BSY traded up $0.21 during mid-day trading on Tuesday, reaching $32.81. 151,473 shares of the company’s stock were exchanged, compared to its average volume of 3,002,538. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $31.88 and a 200 day simple moving average of $34.92. Bentley Systems, Incorporated has a twelve month low of $28.08 and a twelve month high of $59.25. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.07 and a beta of 1.00.
Bentley Systems (NASDAQ:BSY – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.Bentley Systems’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. As a group, equities analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.
Bentley Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 31.82%.
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.
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