Elo Mutual Pension Insurance Co Has $1.58 Million Stake in Bentley Systems, Incorporated $BSY

Elo Mutual Pension Insurance Co increased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 83.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,596 shares of the company’s stock after purchasing an additional 13,906 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Bentley Systems were worth $1,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake 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 worth $26,000 after buying an additional 627 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Bentley Systems by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 24,350 shares of the company’s stock valued at $1,314,000 after buying an additional 975 shares during the last quarter. World Investment Advisors bought a new position in Bentley Systems in the 2nd quarter worth $240,000. Assetmark Inc. lifted its position in Bentley Systems by 682.8% during the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock worth $39,000 after acquiring an additional 635 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in Bentley Systems by 17.4% during the second quarter. Amalgamated Bank now owns 11,314 shares of the company’s stock valued at $611,000 after acquiring an additional 1,673 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

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

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $391.58 million during 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%.The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. On average, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Oppenheimer dropped their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. UBS Group dropped their price target on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their price target on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Rosenblatt Securities lowered their price objective on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.33.

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.