AGF Management Ltd. Increases Stake in Bentley Systems, Incorporated $BSY

AGF Management Ltd. raised its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 64.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,633 shares of the company’s stock after purchasing an additional 70,650 shares during the quarter. AGF Management Ltd.’s holdings in Bentley Systems were worth $9,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in shares of Bentley Systems by 1,529.3% in the first 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. Robeco Institutional Asset Management B.V. grew its stake in Bentley Systems by 56.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 17,638 shares of the company’s stock valued at $952,000 after buying an additional 6,361 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Bentley Systems during the 2nd quarter valued at $129,000. DAVENPORT & Co LLC lifted its position in shares of Bentley Systems by 11.2% during the second quarter. DAVENPORT & Co LLC now owns 10,372 shares of the company’s stock worth $560,000 after acquiring an additional 1,041 shares in the last quarter. Finally, PUREfi Wealth LLC bought a new position in shares of Bentley Systems in the second quarter worth $241,000. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

BSY has been the topic of a number of analyst reports. BMO Capital Markets started coverage on Bentley Systems in a research note on Thursday, January 22nd. They set an “outperform” rating and a $48.00 price objective on the stock. Piper Sandler decreased their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, January 21st. Barclays reduced their price objective on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, January 12th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price target on shares of Bentley Systems in a report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Bentley Systems Trading Down 2.5%

Shares of BSY opened at $34.24 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. Bentley Systems, Incorporated has a 1-year low of $34.16 and a 1-year high of $59.25. The company has a market capitalization of $10.00 billion, a P/E ratio of 40.76, a P/E/G ratio of 2.43 and a beta of 1.21. The firm’s 50 day simple moving average is $39.56 and its 200 day simple moving average is $47.66.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The firm had revenue of $375.55 million for the quarter, compared to analysts’ expectations of $369.57 million. During the same quarter last year, the company posted $0.24 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.28 annualized dividend and a yield of 0.8%. Bentley Systems’s payout ratio is 33.33%.

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.