Applied Finance Capital Management LLC Takes $380,000 Position in Bentley Systems, Incorporated $BSY

Key Points

• Applied Finance Capital Management LLC has acquired a new stake worth approximately $380,000 in Bentley Systems, purchasing 7,043 shares during the second quarter.
• Institutional investors hold 44.16% of Bentley Systems' stock, with significant stakes raised by firms like Bessemer Group Inc. and Vanguard Group Inc. in recent months.
• Bentley Systems has received ratings including a "Moderate Buy" consensus from analysts, with a range of price targets and 12-month high of $59.25.

Applied Finance Capital Management LLC purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,043 shares of the company's stock, valued at approximately $380,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BSY. Bessemer Group Inc. raised its stake in shares of Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after acquiring an additional 1,883,185 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after acquiring an additional 898,115 shares in the last quarter. Federated Hermes Inc. bought a new position in Bentley Systems in the first quarter worth approximately $15,960,000. Nuveen LLC bought a new position in Bentley Systems in the first quarter worth approximately $11,901,000. Finally, Edgestream Partners L.P. bought a new position in Bentley Systems in the first quarter worth approximately $10,150,000. Institutional investors own 44.16% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Barclays assumed coverage on shares of Bentley Systems in a research note on Tuesday, October 7th. They issued an "equal weight" rating and a $57.00 price objective for the company. KeyCorp boosted their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Oppenheimer lifted their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.64.

Bentley Systems Price Performance

NASDAQ BSY opened at $51.30 on Friday. The firm's fifty day simple moving average is $52.97 and its two-hundred day simple moving average is $50.68. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The firm has a market capitalization of $14.98 billion, a P/E ratio of 64.94, a P/E/G ratio of 4.06 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. During the same period in the previous year, the company earned $0.31 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. Analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Bentley Systems's payout ratio is 35.44%.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.

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