Needham Investment Management LLC Raises Holdings in Bentley Systems, Incorporated $BSY

Needham Investment Management LLC lifted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 55.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Needham Investment Management LLC’s holdings in Bentley Systems were worth $5,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSY. Los Angeles Capital Management LLC purchased a new stake in shares of Bentley Systems during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. lifted its stake in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Bentley Systems during the 3rd quarter valued at about $37,000. IFP Advisors Inc boosted its holdings in shares of Bentley Systems by 174.5% during the 3rd quarter. IFP Advisors Inc now owns 763 shares of the company’s stock valued at $39,000 after acquiring an additional 485 shares during the last quarter. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Bentley Systems during the 4th quarter valued at about $32,000. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Performance

BSY opened at $30.53 on Tuesday. 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 cap of $8.92 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 1.99 and a beta of 1.00. The company’s 50 day moving average is $33.10 and its 200 day moving average is $36.13. Bentley Systems, Incorporated has a 12-month low of $29.45 and a 12-month high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. On average, equities research analysts predict that Bentley Systems, Incorporated will post 1.19 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is 31.82%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BSY shares. Weiss Ratings cut shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Bank of America began coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Rosenblatt Securities lowered their price target on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Bentley Systems has a consensus rating of “Hold” and a consensus target price of $47.00.

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.