Avanza Fonder AB Increases Stock Position in Bentley Systems, Incorporated $BSY

Avanza Fonder AB lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 199.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,220 shares of the company’s stock after purchasing an additional 16,142 shares during the period. Avanza Fonder AB’s holdings in Bentley Systems were worth $924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSY. Geneos Wealth Management Inc. grew its position in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Bentley Systems during the 3rd quarter worth approximately $28,000. National Pension Service purchased a new position in shares of Bentley Systems in the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bentley Systems in the 3rd quarter worth approximately $37,000. Finally, Physician Wealth Advisors Inc. bought a new position in shares of Bentley Systems in the third quarter valued at approximately $39,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSY has been the subject of a number of research analyst reports. Barclays increased their price target on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, March 6th. Mizuho cut their price objective on Bentley Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Rosenblatt Securities decreased their target price on Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Robert W. Baird set a $55.00 target price on Bentley Systems in a research note on Wednesday, January 7th. Finally, Piper Sandler cut their price target on shares of Bentley Systems from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.50.

Bentley Systems Price Performance

Bentley Systems stock opened at $37.14 on Wednesday. Bentley Systems, Incorporated has a 12 month low of $30.97 and a 12 month high of $59.25. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $36.47 and its 200 day simple moving average is $42.75. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 2.57 and a beta of 1.18.

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

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 annualized dividend and a yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is 32.56%.

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.