Bessemer Group Inc. Reduces Stake in Bentley Systems, Incorporated $BSY

Bessemer Group Inc. reduced its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 23.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,908,435 shares of the company’s stock after selling 577,704 shares during the period. Bessemer Group Inc.’s holdings in Bentley Systems were worth $72,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted 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 worth $26,000 after buying an additional 627 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Bentley Systems in the 3rd quarter worth $28,000. National Pension Service purchased a new position in shares of Bentley Systems in the 3rd quarter worth $28,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new position in shares of Bentley Systems in the 4th quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Bentley Systems in the 3rd quarter worth $37,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Price Performance

Shares of Bentley Systems stock opened at $32.07 on Friday. Bentley Systems, Incorporated has a one year low of $30.52 and a one year high of $59.25. The stock’s fifty day moving average is $35.01 and its 200 day moving average is $38.11. The stock has a market cap of $9.37 billion, a P/E ratio of 36.44, a P/E/G ratio of 1.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $419.80 million. During the same period last year, the firm earned $0.35 EPS. Bentley Systems’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.23 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were issued 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 yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is currently 31.82%.

Analyst Ratings Changes

BSY has been the topic of a number of research reports. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Mizuho decreased their target price on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Bank of America initiated coverage on Bentley Systems in a report on Tuesday. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Rosenblatt Securities decreased their target price on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.69.

Bentley Systems 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.