Bessemer Group Inc. Sells 577,704 Shares of Bentley Systems, Incorporated $BSY

Bessemer Group Inc. lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 23.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,908,435 shares of the company’s stock after selling 577,704 shares during the period. Bessemer Group Inc. owned approximately 0.65% of Bentley Systems worth $72,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSY. Geneos Wealth Management Inc. increased its position in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares in the last quarter. Baillie Gifford & Co. bought a new position in Bentley Systems during the 3rd quarter valued at approximately $28,000. National Pension Service bought a new position in Bentley Systems during the 3rd quarter valued at approximately $28,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new position in Bentley Systems during the 4th quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Bentley Systems during the 3rd quarter valued at approximately $37,000. Institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

BSY has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Oppenheimer reduced their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. UBS Group reduced their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Barclays raised their price objective 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. Finally, Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and an average target price of $47.69.

Bentley Systems Stock Performance

Shares of BSY opened at $32.07 on Friday. The business’s fifty day simple moving average is $35.01 and its two-hundred day simple moving average is $38.11. 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 $30.52 and a 12 month high of $59.25. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 1.99 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same period last year, the business posted $0.35 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that Bentley Systems, Incorporated will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s dividend payout ratio (DPR) is currently 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.