Pictet Asset Management Holding SA Boosts Stock Position in Bentley Systems, Incorporated $BSY

Pictet Asset Management Holding SA raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 150.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,661,346 shares of the company’s stock after buying an additional 2,803,241 shares during the period. Pictet Asset Management Holding SA’s holdings in Bentley Systems were worth $163,703,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in Bentley Systems by 54,633.0% in the fourth quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock valued at $11,384,000 after acquiring an additional 297,750 shares in the last quarter. Aviso Financial Inc. acquired a new stake in shares of Bentley Systems during the third quarter worth about $930,000. Fisher Asset Management LLC increased its position in shares of Bentley Systems by 22.0% during the third quarter. Fisher Asset Management LLC now owns 171,805 shares of the company’s stock worth $8,845,000 after purchasing an additional 30,972 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Bentley Systems in the 4th quarter valued at about $6,822,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Bentley Systems in the 3rd quarter valued at about $150,903,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSY has been the topic of a number of research reports. Bank of America assumed coverage on Bentley Systems in a research note on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target on the stock. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $42.00 to $45.00 in a research note on Friday, May 8th. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. UBS Group lowered their target price on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Finally, Barclays cut 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 report on Friday, May 29th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

Bentley Systems Stock Performance

Shares of BSY stock opened at $30.00 on Monday. The stock’s 50-day moving average price is $32.28 and its 200 day moving average price is $35.32. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $8.77 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 1.93 and a beta of 1.00. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company 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 was up 14.5% on a year-over-year basis. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a $0.07 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is presently 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.