Needham Investment Management LLC Boosts Position in Bentley Systems, Incorporated $BSY

Needham Investment Management LLC lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 55.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Needham Investment Management LLC’s holdings in Bentley Systems were worth $5,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new stake in shares of Bentley Systems in the 3rd quarter worth about $150,903,000. Norges Bank bought a new stake in Bentley Systems during the 4th quarter valued at approximately $68,766,000. Vanguard Group Inc. grew its holdings in shares of Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after acquiring an additional 1,792,591 shares during the period. Swedbank AB raised its position in shares of Bentley Systems by 18.5% in the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after acquiring an additional 1,338,706 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Bentley Systems by 115.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,352,362 shares of the company’s stock valued at $51,613,000 after purchasing an additional 725,197 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BSY. Mizuho reduced their price target on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Weiss Ratings lowered Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Zacks Research cut shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Barclays decreased their price target on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Finally, Rosenblatt Securities lowered their price target on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Nine 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.00.

Bentley Systems Trading Down 0.5%

Bentley Systems stock opened at $30.53 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. The business’s fifty day simple moving average is $33.10 and its two-hundred day simple moving average is $36.13. Bentley Systems, Incorporated has a 12 month low of $29.45 and a 12 month high of $59.25. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 1.99 and a beta of 1.00.

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

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio (DPR) is currently 31.82%.

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.