Xponance Inc. Lowers Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Xponance Inc. lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 24,342 shares of the company’s stock after selling 1,286 shares during the quarter. Xponance Inc.’s holdings in Bentley Systems were worth $1,270,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after purchasing an additional 556,363 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after acquiring an additional 578,512 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Bentley Systems by 1.9% during the third quarter. Artisan Partners Limited Partnership now owns 5,446,498 shares of the company’s stock valued at $273,196,000 after acquiring an additional 100,207 shares during the period. Northern Trust Corp increased its stake in Bentley Systems by 6.5% during the third quarter. Northern Trust Corp now owns 1,625,197 shares of the company’s stock worth $81,520,000 after acquiring an additional 99,319 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bentley Systems by 13.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,734 shares of the company’s stock worth $70,311,000 after purchasing an additional 170,581 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Bentley Systems stock opened at $54.44 on Thursday. Bentley Systems, Incorporated has a 12-month low of $40.89 and a 12-month high of $55.37. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 54.99, a price-to-earnings-growth ratio of 5.36 and a beta of 1.10. The firm’s fifty day moving average price is $50.74 and its 200 day moving average price is $50.86.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The business had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same period in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were given a dividend of $0.06 per share. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. Bentley Systems’s dividend payout ratio (DPR) is presently 24.24%.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the completion of the transaction, the director now owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

BSY has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, February 28th. Rosenblatt Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $54.00 to $60.00 in a research note on Monday, February 26th. Robert W. Baird lifted their target price on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Finally, William Blair assumed coverage on Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average target price of $58.44.

About Bentley Systems

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.