Swedbank AB lifted its position in Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) by 4.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,000,000 shares of the company’s stock after acquiring an additional 410,799 shares during the period. Swedbank AB’s holdings in Bentley Systems were worth $316,080,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Cresset Asset Management LLC raised its holdings in Bentley Systems by 6.5% in the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock worth $251,000 after acquiring an additional 296 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Bentley Systems by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company’s stock valued at $2,532,000 after purchasing an additional 305 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its stake in Bentley Systems by 0.7% during the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 50,048 shares of the company’s stock valued at $1,910,000 after purchasing an additional 326 shares during the last quarter. National Pension Service boosted its stake in Bentley Systems by 63.0% during the 4th quarter. National Pension Service now owns 880 shares of the company’s stock valued at $34,000 after purchasing an additional 340 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Bentley Systems by 63.7% in the 4th quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock worth $34,000 after purchasing an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on BSY shares. UBS Group decreased their price target on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Mizuho dropped their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 30th. BNP Paribas Exane started coverage on Bentley Systems in a research report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Bank of America started coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They set a “buy” rating and a $40.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.54.
Bentley Systems Stock Performance
BSY traded up $0.38 during mid-day trading on Tuesday, reaching $32.98. 435,097 shares of the company traded hands, compared to its average volume of 3,004,829. The company’s fifty day moving average price is $31.88 and its 200-day moving average price is $34.92. The stock has a market capitalization of $9.64 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.07 and a beta of 1.00. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $59.25.
Bentley Systems (NASDAQ:BSY – Get Free Report) last released its quarterly earnings results 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. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same period last year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current year.
Bentley Systems Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s dividend payout ratio is currently 31.82%.
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.
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