Fisher Asset Management LLC Has $7.60 Million Position in Bentley Systems, Incorporated $BSY

Fisher Asset Management LLC cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 12.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,833 shares of the company’s stock after selling 19,666 shares during the quarter. Fisher Asset Management LLC’s holdings in Bentley Systems were worth $7,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BSY. Bessemer Group Inc. increased its position in Bentley Systems by 3.6% during the second quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after buying an additional 68,155 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Bentley Systems by 66.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 78,808 shares of the company’s stock worth $4,244,000 after acquiring an additional 31,402 shares in the last quarter. AGF Management Ltd. increased its holdings in shares of Bentley Systems by 7.4% during the 2nd quarter. AGF Management Ltd. now owns 109,983 shares of the company’s stock valued at $5,936,000 after acquiring an additional 7,536 shares during the last quarter. Jump Financial LLC bought a new position in shares of Bentley Systems in the 1st quarter valued at approximately $333,000. Finally, Vanguard Group Inc. lifted its holdings in Bentley Systems by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BSY. Robert W. Baird lowered their price target on Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock 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 research note on Thursday, November 6th. Barclays assumed coverage on shares of Bentley Systems in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 target price for the company. Piper Sandler lowered their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group lifted their price objective on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.73.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $42.47 on Friday. The firm’s 50-day moving average is $47.83 and its 200-day moving average is $51.30. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 3.33 and a beta of 1.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $375.55 million for the quarter, compared to the consensus estimate of $369.57 million. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. Equities research analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, December 4th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, December 4th. Bentley Systems’s dividend payout ratio is presently 33.33%.

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.