Mitsubishi UFJ Trust & Banking Corp Purchases 328,267 Shares of Bentley Systems, Incorporated $BSY

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 239.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 465,152 shares of the company’s stock after purchasing an additional 328,267 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bentley Systems were worth $17,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the period. Baillie Gifford & Co. bought a new position in Bentley Systems in the third quarter worth approximately $28,000. National Pension Service purchased a new position in shares of Bentley Systems during the 3rd quarter worth $28,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in shares of Bentley Systems during the 4th quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Bentley Systems during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Down 0.7%

Shares of Bentley Systems stock opened at $32.62 on Friday. The company has a market capitalization of $9.52 billion, a P/E ratio of 37.93, a P/E/G ratio of 2.20 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56. The company has a fifty day moving average of $35.57 and a 200 day moving average of $39.38. Bentley Systems, Incorporated has a fifty-two week low of $30.83 and a fifty-two week high of $59.25.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The business had revenue of $391.58 million for the quarter, compared to analysts’ expectations of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s dividend payout ratio is presently 32.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird set a $55.00 target price on Bentley Systems in a report on Wednesday, January 7th. Piper Sandler reduced their price target on Bentley Systems from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. UBS Group decreased their price objective on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Zacks Research upgraded Bentley Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $48.50.

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.