Pictet Asset Management Holding SA Increases Stock Holdings in Bentley Systems, Incorporated $BSY

Pictet Asset Management Holding SA grew its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 150.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,661,346 shares of the company’s stock after buying an additional 2,803,241 shares during the period. Pictet Asset Management Holding SA owned 1.60% of Bentley Systems worth $163,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new position in shares of Bentley Systems during the 3rd quarter worth approximately $150,903,000. Norges Bank purchased a new stake in Bentley Systems in the fourth quarter valued at approximately $68,766,000. Swedbank AB lifted its stake in Bentley Systems by 18.5% during the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after purchasing an additional 1,338,706 shares in the last quarter. Invesco Ltd. boosted its position in shares of Bentley Systems by 246.4% during the fourth quarter. Invesco Ltd. now owns 1,366,990 shares of the company’s stock worth $52,171,000 after buying an additional 972,409 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Bentley Systems by 1,583.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 911,878 shares of the company’s stock valued at $34,802,000 after buying an additional 857,718 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

BSY opened at $30.00 on Monday. Bentley Systems, Incorporated has a 12 month low of $28.08 and a 12 month high of $59.25. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 1.93 and a beta of 1.00. 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 business has a fifty day moving average price of $32.28 and a 200 day moving average price of $35.32.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share (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 during the quarter, compared to analysts’ expectations of $419.80 million. During the same quarter last year, the business posted $0.35 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts expect that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BSY shares. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Mizuho reduced their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Barclays lowered their price objective 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, UBS Group dropped their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and an average target price of $46.50.

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.