Handelsbanken Fonder AB Sells 1,700 Shares of Bentley Systems, Incorporated $BSY

Handelsbanken Fonder AB cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 621,900 shares of the company’s stock after selling 1,700 shares during the period. Handelsbanken Fonder AB owned about 0.21% of Bentley Systems worth $33,564,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its position 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 in the last quarter. Twin Tree Management LP boosted its stake in shares of Bentley Systems by 361.9% during the 1st quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after buying an additional 579 shares during the last quarter. Allworth Financial LP grew its holdings 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 acquiring an additional 192 shares in the last quarter. Assetmark Inc. increased its position in shares of Bentley Systems by 682.8% in the second quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after acquiring an additional 635 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in 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 acquiring an additional 584 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Up 2.7%

Shares of Bentley Systems stock opened at $41.16 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. The business has a fifty day simple moving average of $49.79 and a two-hundred day simple moving average of $51.63. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 49.00, a P/E/G ratio of 3.14 and a beta of 1.12.

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

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were paid a $0.07 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Bentley Systems’s dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

BSY has been the subject of several recent research reports. UBS Group increased their price target on Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price objective on shares of Bentley Systems in a report on Thursday, November 6th. JPMorgan Chase & Co. lowered their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, October 8th. Finally, Robert W. Baird decreased their price objective on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.73.

Bentley Systems Company 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.