Bentley Systems, Incorporated $BSY Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 25.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 166,493 shares of the company’s stock after buying an additional 33,456 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bentley Systems were worth $6,352,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Shell Asset Management Co. lifted its stake in Bentley Systems by 4.8% during the third 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 raised its holdings in Bentley Systems by 2.3% during the third 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 in the last quarter. BLB&B Advisors LLC boosted its holdings in shares of Bentley Systems by 0.5% in the 3rd quarter. BLB&B Advisors LLC now owns 52,361 shares of the company’s stock valued at $2,696,000 after buying an additional 261 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ grew its position in shares of Bentley Systems by 0.6% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock valued at $2,560,000 after buying an additional 275 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its position in Bentley Systems by 6.5% in the third quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock valued at $251,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $32.76 on Monday. Bentley Systems, Incorporated has a 52 week low of $30.83 and a 52 week high of $59.25. The company has a 50-day moving average price of $35.58 and a 200 day moving average price of $38.84. The company has a market cap of $9.58 billion, a P/E ratio of 37.23, a PEG ratio of 2.20 and a beta of 1.01. 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 (NASDAQ:BSY) last issued its 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. 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%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. Research analysts predict that Bentley Systems, Incorporated will post 1.23 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems’s dividend payout ratio is 31.82%.

Trending Headlines about Bentley Systems

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Bentley Systems reported Q1 earnings of $0.38 per share, beating estimates of $0.36, while revenue of $424.2 million also topped expectations. Sales rose 14.5% year over year, suggesting continued healthy demand for the company’s software. Earnings transcript
• Positive Sentiment: Mizuho kept an outperform rating on Bentley Systems and still sees upside from current levels, which may help support sentiment despite the lower target. Benzinga report
• Neutral Sentiment: The company’s earnings call transcript and presentation are in focus as investors look for commentary on growth trends, margins, and full-year guidance following the report. Yahoo Finance transcript
• Negative Sentiment: Mizuho lowered its price target on Bentley Systems from $50 to $45, a sign that analysts are becoming slightly more cautious about the stock’s near-term valuation. Mizuho price-target update

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BSY shares. Oppenheimer dropped 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. Zacks Research upgraded Bentley Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, Rosenblatt Securities lowered their price objective on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

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.