Federated Hermes Inc. Buys 113,300 Shares of Bentley Systems, Incorporated $BSY

Federated Hermes Inc. raised its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 27.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 519,005 shares of the company’s stock after purchasing an additional 113,300 shares during the period. Federated Hermes Inc. owned 0.18% of Bentley Systems worth $28,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after acquiring an additional 898,115 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Bentley Systems by 25.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132,778 shares of the company’s stock valued at $5,223,000 after purchasing an additional 26,600 shares during the last quarter. Entropy Technologies LP boosted its position in Bentley Systems by 3.3% during the first quarter. Entropy Technologies LP now owns 19,085 shares of the company’s stock worth $751,000 after purchasing an additional 601 shares during the period. Nuveen LLC purchased a new position in shares of Bentley Systems in the first quarter worth about $11,901,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Bentley Systems in the first quarter valued at approximately $334,000. 44.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Robert W. Baird cut their price objective on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Piper Sandler cut their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of Bentley Systems in a research report on Thursday, November 6th. Barclays initiated coverage on Bentley Systems in a report on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.73.

Bentley Systems Trading Down 1.9%

Shares of Bentley Systems stock opened at $41.28 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The firm has a market cap of $12.05 billion, a PE ratio of 49.14, a PEG ratio of 3.29 and a beta of 1.23. The company has a 50 day simple moving average of $47.24 and a two-hundred day simple moving average of $51.23.

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

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th will be issued 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.