Bessemer Group Inc. Acquires 534,776 Shares of Bentley Systems, Incorporated $BSY

Bessemer Group Inc. lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 27.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,486,139 shares of the company’s stock after purchasing an additional 534,776 shares during the period. Bessemer Group Inc.’s holdings in Bentley Systems were worth $127,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSY. Allworth Financial LP grew its holdings in Bentley Systems by 37.6% during the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after acquiring an additional 192 shares during the last quarter. Thrive Wealth Management LLC lifted its position in shares of Bentley Systems by 2.5% during the third quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock worth $427,000 after purchasing an additional 200 shares in the last quarter. Genesis Private Wealth LLC raised its holdings in Bentley Systems by 5.4% during the 3rd quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock worth $204,000 after purchasing an additional 204 shares during the last quarter. Blue Trust Inc. lifted its position in Bentley Systems by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 1,305 shares of the company’s stock valued at $70,000 after purchasing an additional 211 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Bentley Systems by 2.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock valued at $589,000 after purchasing an additional 247 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of Bentley Systems in a research note on Thursday, January 22nd. They set an “outperform” rating and a $48.00 price target for the company. Piper Sandler dropped their target price on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. reduced their price target on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Robert W. Baird set a $55.00 price objective on Bentley Systems in a research note on Wednesday, January 7th. Finally, Barclays cut their target price on Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Monday, January 12th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $32.01 on Friday. The stock’s fifty day simple moving average is $39.02 and its 200 day simple moving average is $47.26. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $9.35 billion, a PE ratio of 38.11, a PEG ratio of 2.27 and a beta of 1.21. Bentley Systems, Incorporated has a 12 month low of $30.97 and a 12 month high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $375.55 million during the quarter, compared to the consensus estimate of $369.57 million. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 earnings per share. On average, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, December 4th were given a $0.07 dividend. The ex-dividend date was Thursday, December 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Bentley Systems’s payout ratio is currently 33.33%.

About Bentley Systems

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.