Lombard Odier Asset Management Europe Ltd Has $6.07 Million Stake in Bentley Systems, Incorporated $BSY

Lombard Odier Asset Management Europe Ltd trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 99.0% in the first quarter, Holdings Channel reports. The fund owned 172,956 shares of the company’s stock after selling 16,309,862 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Bentley Systems were worth $6,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in shares of Bentley Systems in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. boosted its stake in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the period. Physician Wealth Advisors Inc. grew its holdings in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares during the last quarter. Royal London Asset Management Ltd. acquired a new stake in Bentley Systems in the 4th quarter valued at approximately $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new position in Bentley Systems in the 4th quarter worth approximately $34,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of research analyst reports. Zacks Research lowered Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. BNP Paribas Exane began coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Mizuho reduced their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $31.40 on Friday. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $59.25. The firm has a market capitalization of $9.18 billion, a PE ratio of 35.68, a PEG ratio of 2.02 and a beta of 1.00. The business’s 50 day moving average is $31.61 and its 200-day moving average is $34.22. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $424.18 million during 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%.Bentley Systems’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. Sell-side analysts predict that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s payout ratio is 31.82%.

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.