TD Asset Management Inc Grows Stake in Bentley Systems, Incorporated $BSY

TD Asset Management Inc lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 165.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,266 shares of the company’s stock after buying an additional 22,620 shares during the period. TD Asset Management Inc’s holdings in Bentley Systems were worth $1,867,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BSY. Lansforsakringar Fondforvaltning AB publ grew its stake in Bentley Systems by 0.6% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock valued at $2,560,000 after purchasing an additional 275 shares during the last quarter. Tredje AP fonden increased its holdings in shares of Bentley Systems by 4.1% during the 3rd quarter. Tredje AP fonden now owns 21,964 shares of the company’s stock valued at $1,131,000 after purchasing an additional 863 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. lifted its stake in shares of Bentley Systems by 3,054.5% in the 3rd quarter. Marshall & Sterling Wealth Advisors Inc. now owns 8,675 shares of the company’s stock valued at $446,000 after purchasing an additional 8,400 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Bentley Systems by 0.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 927,738 shares of the company’s stock valued at $47,788,000 after purchasing an additional 6,269 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Bentley Systems by 10.7% during the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after buying an additional 1,792,591 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, January 21st. Royal Bank Of Canada decreased their target price on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Barclays cut their target price on Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, January 12th. JPMorgan Chase & Co. lowered their price objective on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Piper Sandler reduced their target price on Bentley Systems from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.33.

Bentley Systems Price Performance

BSY opened at $39.51 on Friday. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 45.94, a PEG ratio of 2.79 and a beta of 1.18. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $36.66 and its 200 day moving average price is $44.34. Bentley Systems, Incorporated has a 12-month low of $30.97 and a 12-month high of $59.25.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $391.58 million during the quarter, compared to analyst estimates of $381.79 million. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, March 10th. Bentley Systems’s dividend payout ratio (DPR) is currently 32.56%.

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.