Aurora Investment Counsel Purchases Shares of 50,195 Bentley Systems, Incorporated $BSY

Key Points

• Aurora Investment Counsel opened a new position in Bentley Systems, buying 50,195 shares valued at about $1.76 million in the first quarter.
• Bentley Systems reported better-than-expected quarterly results, with EPS of $0.38 versus $0.36 expected and revenue of $424.18 million, up 14.5% year over year.
• Analyst sentiment has turned more cautious: several firms cut price targets or downgraded the stock, and MarketBeat shows a consensus rating of Hold with a target price of $45.54.

Aurora Investment Counsel acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,195 shares of the company's stock, valued at approximately $1,763,000.

Several other hedge funds also recently modified their holdings of BSY. Baillie Gifford & Co. grew its holdings in Bentley Systems by 54,633.0% during the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company's stock worth $11,384,000 after acquiring an additional 297,750 shares during the last quarter. Retirement Systems of Alabama bought a new position in shares of Bentley Systems in the fourth quarter worth about $6,822,000. Comerica Bank raised its stake in shares of Bentley Systems by 106.8% in the fourth quarter. Comerica Bank now owns 61,147 shares of the company's stock worth $2,334,000 after acquiring an additional 31,576 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Bentley Systems by 25.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,493 shares of the company's stock worth $6,352,000 after purchasing an additional 33,456 shares in the last quarter. Finally, Danske Bank A S lifted its position in shares of Bentley Systems by 74.5% during the fourth quarter. Danske Bank A S now owns 78,204 shares of the company's stock worth $2,985,000 after purchasing an additional 33,400 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Price Performance

BSY opened at $32.34 on Friday. The company has a fifty day moving average price of $31.72 and a two-hundred day moving average price of $34.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems, Incorporated has a 52 week low of $28.08 and a 52 week high of $59.25. The firm has a market capitalization of $9.45 billion, a PE ratio of 36.75, a P/E/G ratio of 2.08 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY - Get Free Report) 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. The company had revenue of $424.18 million during the quarter, compared to analysts' expectations of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, analysts anticipate that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.07 dividend. 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 is currently 31.82%.

Analyst Ratings Changes

BSY has been the topic of several research analyst reports. Barclays decreased their price target on shares of Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Friday, May 29th. Mizuho reduced their price objective on Bentley Systems from $50.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. Weiss Ratings lowered Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday. UBS Group lowered their target price on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Finally, Zacks Research downgraded Bentley Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of "Hold" and a consensus target price of $45.54.

About Bentley Systems

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.

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