Tensor Edge Capital LLC Buys 177,067 Shares of Bentley Systems, Incorporated $BSY

Tensor Edge Capital LLC raised its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 212.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,400 shares of the company’s stock after purchasing an additional 177,067 shares during the period. Bentley Systems accounts for 1.6% of Tensor Edge Capital LLC’s portfolio, making the stock its 16th largest holding. Tensor Edge Capital LLC owned 0.09% of Bentley Systems worth $9,145,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Baillie Gifford & Co. raised its holdings in Bentley Systems by 54,633.0% in the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after acquiring an additional 297,750 shares during the period. Retirement Systems of Alabama bought a new stake in Bentley Systems during the fourth quarter valued at about $6,822,000. Fieldview Capital Management LLC bought a new stake in Bentley Systems during the third quarter valued at about $1,574,000. Comerica Bank grew its position in shares of Bentley Systems by 106.8% in the fourth quarter. Comerica Bank now owns 61,147 shares of the company’s stock valued at $2,334,000 after purchasing an additional 31,576 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Bentley Systems by 25.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,493 shares of the company’s stock valued at $6,352,000 after purchasing an additional 33,456 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Price Performance

NASDAQ BSY opened at $32.26 on Friday. Bentley Systems, Incorporated has a twelve month low of $28.08 and a twelve month high of $59.25. The stock has a market cap of $9.43 billion, a PE ratio of 36.66, a PEG ratio of 2.07 and a beta of 1.00. The firm has a 50-day simple moving average of $31.88 and a 200 day simple moving average of $35.01. 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 issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. On average, research analysts forecast that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on BSY. UBS Group cut their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Weiss Ratings raised Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Barclays dropped their price target on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. Bank of America assumed coverage on Bentley Systems in a research report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, BNP Paribas Exane began coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.