Fisher Asset Management LLC Boosts Stock Position in Bentley Systems, Incorporated $BSY

Fisher Asset Management LLC raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 22.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 171,805 shares of the company’s stock after purchasing an additional 30,972 shares during the quarter. Fisher Asset Management LLC owned 0.06% of Bentley Systems worth $8,845,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Bentley Systems by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after buying an additional 1,792,591 shares during the last quarter. Swedbank AB lifted its stake in shares of Bentley Systems by 2.3% in the 3rd quarter. Swedbank AB now owns 7,250,495 shares of the company’s stock worth $373,255,000 after acquiring an additional 160,594 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Bentley Systems by 5.0% in the second quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock valued at $173,877,000 after acquiring an additional 155,078 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Bentley Systems by 207.6% during the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after acquiring an additional 2,066,725 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Bentley Systems during the third quarter worth about $150,903,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BSY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a report on Monday. Rosenblatt Securities dropped their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Oppenheimer cut their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, Barclays decreased their target price on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Monday, January 12th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.33.

Bentley Systems Stock Performance

NASDAQ BSY opened at $38.87 on Thursday. The business has a 50 day moving average price of $36.65 and a 200 day moving average price of $44.37. The company has a market capitalization of $11.33 billion, a P/E ratio of 45.20, a PEG ratio of 2.78 and a beta of 1.18. Bentley Systems, Incorporated has a 1-year low of $30.97 and a 1-year high of $59.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.56.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $391.58 million for the quarter, compared to analyst estimates of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.Bentley Systems’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. Sell-side analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, March 10th. Bentley Systems’s dividend payout ratio (DPR) is 32.56%.

About Bentley Systems

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.