The Manufacturers Life Insurance Company Decreases Stake in Bentley Systems, Incorporated $BSY

The Manufacturers Life Insurance Company decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 98.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,041 shares of the company’s stock after selling 6,972,387 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bentley Systems were worth $4,146,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of BSY. Swedbank AB boosted its stake in shares of Bentley Systems by 4.8% in the 1st quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock worth $316,080,000 after buying an additional 410,799 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Bentley Systems by 253.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock valued at $167,924,000 after acquiring an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after acquiring an additional 2,803,241 shares during the period. Geode Capital Management LLC lifted its holdings in Bentley Systems by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock worth $132,060,000 after acquiring an additional 216,257 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Bentley Systems by 8.9% in the fourth quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after purchasing an additional 259,780 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Bentley Systems stock opened at $35.36 on Friday. The firm has a market capitalization of $10.34 billion, a P/E ratio of 40.18, a PEG ratio of 2.32 and a beta of 0.98. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $57.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The business has a fifty day moving average price of $32.09 and a 200-day moving average price of $33.94.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business had revenue of $410.73 million for the quarter, compared to analysts’ expectations of $412.12 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities 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 given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BSY. Barclays reduced their price objective on 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. BMO Capital Markets set a $41.00 price objective on shares of Bentley Systems in a report on Friday, July 24th. UBS Group lowered their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Bank of America began coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Weiss Ratings downgraded shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. Nine research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Bentley Systems 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.