Geode Capital Management LLC Has $132.06 Million Stock Position in Bentley Systems, Incorporated $BSY

Geode Capital Management LLC lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,468,512 shares of the company’s stock after purchasing an additional 216,257 shares during the quarter. Geode Capital Management LLC’s holdings in Bentley Systems were worth $132,060,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BSY. Geneos Wealth Management Inc. grew its holdings in shares of Bentley Systems by 1,529.3% during 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. Invesco Ltd. grew its holdings in shares of Bentley Systems by 2.6% during the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after purchasing an additional 9,557 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Bentley Systems by 97.5% during the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock worth $8,670,000 after purchasing an additional 79,286 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Bentley Systems during the 2nd quarter worth $212,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Bentley Systems during the 2nd quarter worth $248,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Price Performance

Shares of BSY opened at $33.06 on Friday. Bentley Systems, Incorporated has a 1 year low of $30.52 and a 1 year high of $59.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. The business has a 50-day moving average of $33.52 and a 200-day moving average of $36.59.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. During the same period last year, the company earned $0.35 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Bentley Systems, Incorporated will post 1.19 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 2nd. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BSY shares. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Rosenblatt Securities dropped their price objective 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. Bank of America started coverage on Bentley Systems in a research report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Mizuho dropped their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Bentley Systems has a consensus rating of “Hold” and a consensus target price of $47.00.

Bentley Systems Company 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.