TD Asset Management Inc Grows Holdings in Bentley Systems, Incorporated $BSY

TD Asset Management Inc raised its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 165.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,266 shares of the company’s stock after buying an additional 22,620 shares during the quarter. TD Asset Management Inc’s holdings in Bentley Systems were worth $1,867,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP increased its stake 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 purchasing an additional 192 shares in the last quarter. Thrive Wealth Management LLC raised its position in Bentley Systems by 2.5% during the third quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock worth $427,000 after acquiring an additional 200 shares during the last quarter. Genesis Private Wealth LLC grew its position in shares of Bentley Systems by 5.4% in the third quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock valued at $204,000 after purchasing an additional 204 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of Bentley Systems by 4.8% during the 3rd quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock worth $279,000 after purchasing an additional 246 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Bentley Systems by 2.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock worth $589,000 after purchasing an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on BSY shares. Rosenblatt Securities decreased their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research note on Monday. Royal Bank Of Canada lowered their price target on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, January 5th. UBS Group reduced their price objective on shares of Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Finally, Piper Sandler cut their price target on Bentley Systems from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.33.

Bentley Systems Price Performance

BSY opened at $39.51 on Friday. Bentley Systems, Incorporated has a 52-week low of $30.97 and a 52-week high of $59.25. The company has a 50 day moving average of $36.66 and a two-hundred day moving average of $44.34. The company has a market cap of $11.51 billion, a P/E ratio of 45.94, a P/E/G ratio of 2.79 and a beta of 1.18. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.05.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The firm 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 firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The company 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 $0.07 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Bentley Systems’s dividend payout ratio (DPR) is presently 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.