Legal & General Group Plc boosted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 839,300 shares of the company’s stock after purchasing an additional 79,894 shares during the period. Legal & General Group Plc’s holdings in Bentley Systems were worth $32,032,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Shell Asset Management Co. grew its position in Bentley Systems by 4.8% during the 3rd quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock worth $279,000 after purchasing an additional 246 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Bentley Systems by 2.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock worth $589,000 after purchasing an additional 247 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ grew its position in Bentley Systems by 0.6% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock worth $2,560,000 after purchasing an additional 275 shares during the last quarter. Cresset Asset Management LLC grew its position in Bentley Systems by 6.5% during the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock worth $251,000 after purchasing an additional 296 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position 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 worth $2,532,000 after purchasing an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Zacks Research downgraded shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Oppenheimer dropped their target price on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Barclays dropped their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday. Mizuho dropped their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Bentley Systems currently has an average rating of “Hold” and an average target price of $47.00.
Bentley Systems Stock Up 1.4%
BSY stock opened at $32.64 on Friday. The firm’s fifty day simple moving average is $33.85 and its 200-day simple moving average is $36.94. The company has a market capitalization of $9.54 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.01. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems, Incorporated has a 12 month low of $30.52 and a 12 month high of $59.25.
Bentley Systems (NASDAQ:BSY – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 1.19 earnings per share for the current year.
Bentley Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is 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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