Madison Asset Management LLC acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 981,380 shares of the company’s stock, valued at approximately $34,466,000. Madison Asset Management LLC owned about 0.34% of Bentley Systems as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Bentley Systems during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its position in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after buying an additional 627 shares during the period. Physician Wealth Advisors Inc. increased its position in Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after buying an additional 352 shares during the period. Royal London Asset Management Ltd. acquired a new stake in shares of Bentley Systems during the fourth quarter worth $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new stake in shares of Bentley Systems during the fourth quarter worth $34,000. Institutional investors own 44.16% of the company’s stock.
Analysts Set New Price Targets
BSY has been the topic of a number of recent research reports. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a research report on Thursday, June 18th. They set an “outperform” rating and a $40.00 price target on the stock. Zacks Research downgraded shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Mizuho lowered their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Barclays dropped their price target 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. Finally, Bank of America began coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price target for the company. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bentley Systems presently has an average rating of “Hold” and a consensus price target of $45.54.
Bentley Systems Trading Up 0.0%
Shares of Bentley Systems stock opened at $32.35 on Tuesday. 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 12-month low of $28.08 and a 12-month high of $59.25. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 2.08 and a beta of 1.00. The firm’s 50-day moving average price is $31.71 and its two-hundred day moving average price is $34.40.
Bentley Systems (NASDAQ:BSY – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. During the same period in the previous year, the company earned $0.35 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.
Bentley Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s payout ratio is currently 31.82%.
Bentley Systems 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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