Ensign Peak Advisors Inc Decreases Position in Bentley Systems, Incorporated $BSY

Ensign Peak Advisors Inc lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 26.6% during the second quarter, Holdings Channel reports. The fund owned 63,488 shares of the company’s stock after selling 22,950 shares during the period. Ensign Peak Advisors Inc’s holdings in Bentley Systems were worth $3,426,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the period. Twin Tree Management LP raised its position in Bentley Systems by 361.9% in the 1st quarter. Twin Tree Management LP now owns 739 shares of the company’s stock valued at $29,000 after purchasing an additional 579 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Bentley Systems by 37.6% in the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after buying an additional 192 shares during the period. Assetmark Inc. grew its position in shares of Bentley Systems by 682.8% during the second quarter. Assetmark Inc. now owns 728 shares of the company’s stock worth $39,000 after buying an additional 635 shares in the last quarter. Finally, Whittier Trust Co. grew its position in shares of Bentley Systems by 237.4% during the second quarter. Whittier Trust Co. now owns 830 shares of the company’s stock worth $45,000 after buying an additional 584 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on BSY. Robert W. Baird reduced their target price on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. The Goldman Sachs Group increased their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, August 7th. UBS Group lifted their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Piper Sandler lowered 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 note on Thursday, November 6th. Finally, JPMorgan Chase & Co. dropped their target price on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus price target of $56.73.

Bentley Systems Trading Up 0.4%

Shares of Bentley Systems stock opened at $41.24 on Wednesday. The company has a fifty day simple moving average of $49.34 and a 200-day simple moving average of $51.65. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. 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 stock has a market cap of $12.04 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 3.22 and a beta of 1.12.

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

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 4th. Bentley Systems’s payout ratio is presently 33.33%.

Bentley Systems Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.