Bentley Systems, Incorporated (NASDAQ:BSY) Plans $0.07 Quarterly Dividend

Key Points

• Bentley Systems declared a quarterly dividend of $0.07 per share, payable September 29 to shareholders of record on September 22. The dividend implies a 0.9% yield, and the company’s 21.1% payout ratio suggests earnings comfortably cover the payment.
• The company reported quarterly EPS of $0.35, beating analyst expectations of $0.32, while revenue rose 12.8% year over year to $410.73 million, slightly below estimates.
• Institutional ownership remains significant at 44.16%, with Arrowstreet Capital and Pictet Asset Management substantially increasing their positions during the year.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) announced a quarterly dividend on Friday, September 4th. Investors of record on Tuesday, September 22nd will be given a dividend of 0.07 per share on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 22nd.

Bentley Systems has raised its dividend payment by an average of 0.6%per year over the last three years and has increased its dividend every year for the last 3 years. Bentley Systems has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bentley Systems to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 20.4%.

Bentley Systems Stock Performance

Bentley Systems stock opened at $32.58 on Friday. Bentley Systems has a twelve month low of $28.08 and a twelve month high of $57.25. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $9.47 billion, a P/E ratio of 35.80, a PEG ratio of 2.05 and a beta of 0.98. The stock's 50 day moving average is $34.24 and its 200 day moving average is $33.87.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The business had revenue of $410.73 million during the quarter, compared to analysts' expectations of $412.12 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm's quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Bentley Systems will post 1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bentley Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its position in Bentley Systems by 253.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company's stock valued at $167,924,000 after acquiring an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Bentley Systems by 150.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company's stock valued at $163,703,000 after purchasing an additional 2,803,241 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Bentley Systems during the 2nd quarter valued at about $78,738,000. Norges Bank bought a new position in shares of Bentley Systems in the 4th quarter worth approximately $68,766,000. Finally, Madison Asset Management LLC purchased a new position in shares of Bentley Systems in the second quarter worth approximately $40,807,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

About Bentley Systems

Bentley Systems, Incorporated develops software for professionals and organizations involved in the planning, design, construction and operation of infrastructure. Its solutions support sectors including transportation, water and wastewater, utilities, buildings, industrial facilities, mining and other public and private infrastructure markets.

The company's product portfolio includes MicroStation for infrastructure design and modeling; ProjectWise for project collaboration and information management; AssetWise for asset performance and operations; OpenRoads and OpenBuildings for specialized design workflows; SYNCHRO for construction management; and the iTwin platform for creating and using digital twins of infrastructure assets.

Founded in 1984 by brothers Keith, Barry and Raymond Bentley, Bentley Systems is headquartered in Exton, Pennsylvania, and serves customers globally.

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