The Manufacturers Life Insurance Company Has $4.15 Million Holdings in Bentley Systems, Incorporated $BSY

The Manufacturers Life Insurance Company lessened its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 98.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,041 shares of the company’s stock after selling 6,972,387 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bentley Systems were worth $4,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BSY. Los Angeles Capital Management LLC acquired a new stake in Bentley Systems during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after purchasing an additional 352 shares in the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of Bentley Systems during the 4th quarter valued at about $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new stake in Bentley Systems during the fourth quarter worth approximately $34,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

BSY stock opened at $35.36 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The business has a 50-day simple moving average of $32.09 and a two-hundred day simple moving average of $33.94. The company has a market capitalization of $10.34 billion, a P/E ratio of 40.18, a price-to-earnings-growth ratio of 2.32 and a beta of 0.98. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $57.25.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $410.73 million for the quarter, compared to analysts’ expectations of $412.12 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.Bentley Systems’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Research analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were paid a $0.07 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Bentley Systems’s dividend payout ratio is presently 31.82%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BSY. BMO Capital Markets set a $41.00 target price on Bentley Systems in a report on Friday, July 24th. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. Bank of America began coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They set a “buy” rating and a $40.00 target price on the stock. Barclays decreased 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 note on Friday, May 29th. Finally, Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and increased their price objective 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.83.

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.