Bessemer Group Inc. Increases Stock Position in Bentley Systems, Incorporated $BSY

Bessemer Group Inc. lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 36.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,600,241 shares of the company’s stock after purchasing an additional 691,806 shares during the period. Bessemer Group Inc.’s holdings in Bentley Systems were worth $91,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in Bentley Systems in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. increased its stake in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after purchasing an additional 352 shares during the period. Royal London Asset Management Ltd. purchased a new position in shares of Bentley Systems in the 4th quarter worth about $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new position in shares of Bentley Systems in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BSY shares. Mizuho decreased their target price on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Bank of America initiated coverage on shares of Bentley Systems in a research report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target on the stock. Barclays dropped their price objective 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. UBS Group reduced their target price on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Finally, 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 for the company. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.54.

Bentley Systems Stock Performance

BSY opened at $32.34 on Friday. Bentley Systems, Incorporated has a twelve month low of $28.08 and a twelve month high of $59.25. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. The stock has a market cap of $9.45 billion, a PE ratio of 36.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. The business’s 50 day moving average is $31.72 and its 200-day moving average is $34.48.

Bentley Systems (NASDAQ:BSY) last released 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 firm had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. During the same quarter last year, the company earned $0.35 EPS. Bentley Systems’s quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts predict that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

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