Bentley Systems, Incorporated $BSY Position Trimmed by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd decreased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 99.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,956 shares of the company’s stock after selling 16,309,862 shares during the period. Lombard Odier Asset Management Europe Ltd owned about 0.06% of Bentley Systems worth $6,074,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased its stake in shares of Bentley Systems by 54,633.0% in the fourth quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after acquiring an additional 297,750 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Bentley Systems during the fourth quarter worth $6,822,000. Comerica Bank boosted its position in Bentley Systems by 106.8% during the fourth quarter. Comerica Bank now owns 61,147 shares of the company’s stock valued at $2,334,000 after purchasing an additional 31,576 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Bentley Systems by 25.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,493 shares of the company’s stock valued at $6,352,000 after purchasing an additional 33,456 shares during the last quarter. Finally, Danske Bank A S grew its stake in Bentley Systems by 74.5% in the fourth quarter. Danske Bank A S now owns 78,204 shares of the company’s stock valued at $2,985,000 after purchasing an additional 33,400 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Trading Up 4.2%

Bentley Systems stock opened at $31.40 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.02 and a beta of 1.00. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $59.25. The company’s fifty day moving average price is $31.61 and its two-hundred day moving average price is $34.22.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

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

Analyst Upgrades and Downgrades

BSY has been the topic of several research reports. Barclays dropped their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. Mizuho reduced their price target on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Bank of America began coverage on Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Hold” and a consensus price target of $45.00.

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.