Pacer Advisors Inc. Reduces Holdings in Bentley Systems, Incorporated $BSY

Pacer Advisors Inc. lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 47.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 353,228 shares of the company’s stock after selling 323,512 shares during the quarter. Pacer Advisors Inc.’s holdings in Bentley Systems were worth $13,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BSY. Lansforsakringar Fondforvaltning AB publ boosted its stake in Bentley Systems by 0.6% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock worth $2,560,000 after purchasing an additional 275 shares in the last quarter. Cresset Asset Management LLC increased its stake in Bentley Systems by 6.5% during the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock valued at $251,000 after purchasing an additional 296 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Bentley Systems by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company’s stock worth $2,532,000 after buying an additional 305 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of Bentley Systems by 0.7% during the fourth quarter. Lansforsakringar Fondforvaltning AB publ now owns 50,048 shares of the company’s stock worth $1,910,000 after buying an additional 326 shares during the period. Finally, National Pension Service lifted its stake in shares of Bentley Systems by 63.0% during the fourth quarter. National Pension Service now owns 880 shares of the company’s stock worth $34,000 after buying an additional 340 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BSY. Mizuho dropped their price objective on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Finally, Piper Sandler raised Bentley Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $42.00 to $45.00 in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.50.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $29.38 on Friday. The company has a 50 day simple moving average of $32.68 and a two-hundred day simple moving average of $35.84. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.90 and a beta of 1.00. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems, Incorporated has a 12 month low of $28.42 and a 12 month high of $59.25.

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

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is presently 31.82%.

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.