AlphaQuest LLC Buys 70,708 Shares of Bentley Systems, Incorporated $BSY

AlphaQuest LLC grew its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 621.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,091 shares of the company’s stock after acquiring an additional 70,708 shares during the period. AlphaQuest LLC’s holdings in Bentley Systems were worth $4,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its holdings in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Bentley Systems during the 3rd quarter worth $28,000. Allworth Financial LP boosted its position in Bentley Systems by 37.6% in the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after buying an additional 192 shares during the last quarter. Assetmark Inc. increased its stake in shares of Bentley Systems by 682.8% in the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after buying an additional 635 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Bentley Systems in the 3rd quarter valued at $41,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BMO Capital Markets began coverage on Bentley Systems in a research note on Thursday, January 22nd. They set an “outperform” rating and a $48.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a report on Thursday, November 6th. Oppenheimer cut their target price on shares of Bentley Systems from $65.00 to $53.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 20th. Barclays lowered their price target on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, January 12th. Finally, Piper Sandler dropped their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.00.

Bentley Systems Stock Down 6.1%

Shares of NASDAQ BSY opened at $35.07 on Friday. Bentley Systems, Incorporated has a 52-week low of $34.49 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market cap of $10.24 billion, a P/E ratio of 41.75, a P/E/G ratio of 2.59 and a beta of 1.21. The firm has a 50 day moving average price of $39.81 and a 200 day moving average price of $48.11.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The company had revenue of $375.55 million for the quarter, compared to analyst estimates of $369.57 million. During the same period last year, the business posted $0.24 earnings per share. 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 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.28 annualized dividend and a yield of 0.8%. Bentley Systems’s payout ratio is currently 33.33%.

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.