Thrivent Financial for Lutherans Increases Stock Position in Bentley Systems, Incorporated $BSY

Thrivent Financial for Lutherans raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 119.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,501 shares of the company’s stock after purchasing an additional 33,536 shares during the period. Thrivent Financial for Lutherans’ holdings in Bentley Systems were worth $2,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Pension Service purchased a new stake in shares of Bentley Systems in the third quarter valued at about $28,000. Baillie Gifford & Co. purchased a new stake in shares of Bentley Systems in the third quarter valued at about $28,000. Geneos Wealth Management Inc. lifted its holdings in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Bentley Systems in the third quarter valued at about $37,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of Bentley Systems in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $33.16 on Tuesday. Bentley Systems, Incorporated has a 1 year low of $30.52 and a 1 year high of $59.25. The firm’s 50 day moving average price is $34.28 and its 200 day moving average price is $37.28. The firm has a market cap of $9.69 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $419.80 million. During the same quarter last year, the business earned $0.35 earnings per share. Bentley Systems’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.23 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BSY shares. Weiss Ratings downgraded shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Barclays upped their price target on shares of Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, March 6th. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $42.00 to $45.00 in a report on Friday, May 8th. Bank of America assumed coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Mizuho reduced their price objective on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $47.69.

Bentley Systems Company Profile

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.