SG Americas Securities LLC Sells 51,639 Shares of Bentley Systems, Incorporated $BSY

SG Americas Securities LLC lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 56.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 40,147 shares of the company’s stock after selling 51,639 shares during the period. SG Americas Securities LLC’s holdings in Bentley Systems were worth $1,410,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Swedbank AB increased its stake in shares of Bentley Systems by 18.5% in the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after acquiring an additional 1,338,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in Bentley Systems by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock worth $132,060,000 after acquiring an additional 216,257 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Bentley Systems by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after acquiring an additional 259,780 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Bentley Systems by 12.1% in the fourth 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 period. Finally, Norges Bank purchased a new stake in Bentley Systems in the fourth quarter worth about $68,766,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ:BSY opened at $32.26 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $9.43 billion, a P/E ratio of 36.66, a P/E/G ratio of 2.07 and a beta of 1.00. Bentley Systems, Incorporated has a fifty-two week low of $28.08 and a fifty-two week high of $59.25. The firm has a 50-day simple moving average of $31.88 and a two-hundred day simple moving average of $35.01.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. Analysts predict that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BSY. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price for the company. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. Mizuho reduced their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Barclays lowered their price objective on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Finally, Bank of America assumed coverage on Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 target price on the stock. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

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.