Swedbank AB Boosts Position in Bentley Systems, Incorporated $BSY

Swedbank AB increased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,000,000 shares of the company’s stock after acquiring an additional 410,799 shares during the quarter. Swedbank AB owned about 3.09% of Bentley Systems worth $316,080,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BSY. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 150.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after purchasing an additional 2,803,241 shares during the period. Norges Bank bought a new stake in Bentley Systems during the 4th quarter valued at approximately $68,766,000. Invesco Ltd. grew its holdings in shares of Bentley Systems by 246.4% during the 4th quarter. Invesco Ltd. now owns 1,366,990 shares of the company’s stock worth $52,171,000 after acquiring an additional 972,409 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Bentley Systems by 1,583.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 911,878 shares of the company’s stock worth $34,802,000 after acquiring an additional 857,718 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Bentley Systems by 115.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,352,362 shares of the company’s stock worth $51,613,000 after acquiring an additional 725,197 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSY has been the topic of several research reports. Mizuho dropped their price target on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. BNP Paribas Exane assumed coverage on Bentley Systems in a research report on Thursday, June 18th. They set an “outperform” rating and a $40.00 price objective for the company. UBS Group dropped their target price on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Finally, Barclays decreased their price target on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.54.

Bentley Systems Stock Up 1.2%

Shares of Bentley Systems stock traded up $0.38 during midday trading on Tuesday, hitting $32.98. The company had a trading volume of 435,097 shares, compared to its average volume of 3,004,829. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $9.64 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.07 and a beta of 1.00. The company has a 50 day moving average of $31.88 and a 200 day moving average of $34.92.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently declared 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. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is presently 31.82%.

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.