Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Bentley Systems, Incorporated $BSY

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 8,101.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 447,555 shares of the company’s stock after buying an additional 442,098 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bentley Systems were worth $17,081,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after buying an additional 1,792,591 shares during the period. Swedbank AB increased its holdings in Bentley Systems by 18.5% during the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after purchasing an additional 1,338,706 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Bentley Systems during the 3rd quarter worth approximately $150,903,000. Bessemer Group Inc. increased its holdings in Bentley Systems by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock worth $127,986,000 after purchasing an additional 534,776 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Bentley Systems by 12.1% during the 4th quarter. Impax Asset Management Group plc now owns 2,178,670 shares of the company’s stock worth $83,149,000 after purchasing an additional 234,998 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BSY. Barclays lifted their price objective on Bentley Systems from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. Zacks Research upgraded Bentley Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. Rosenblatt Securities dropped their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Mizuho dropped their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and an average target price of $47.69.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $33.34 on Thursday. Bentley Systems, Incorporated has a twelve month low of $30.52 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 company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. The business has a 50 day simple moving average of $34.61 and a 200-day simple moving average of $37.64.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating 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 business had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. During the same period in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Bentley Systems, Incorporated will post 1.23 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s payout ratio is 31.82%.

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.