Bentley Systems, Incorporated $BSY Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its stake in Bentley Systems by 36.2% in the first quarter, buying 691,806 additional shares and bringing its total holding to 2.6 million shares, worth about $91.3 million.
• Bentley Systems shares fell 2.3% to open at $32.34, leaving the stock well below its 52-week high of $59.25 while trading at a market cap of $9.45 billion.
• The company recently beat quarterly earnings and revenue estimates, posting EPS of $0.38 versus $0.36 expected and revenue of $424.18 million, while analysts currently have a consensus rating of Hold with a $45.54 price target.

Bessemer Group Inc. lifted its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 36.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,600,241 shares of the company's stock after purchasing an additional 691,806 shares during the period. Bessemer Group Inc. owned approximately 0.89% of Bentley Systems worth $91,320,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cresset Asset Management LLC lifted its position in shares of Bentley Systems by 6.5% during the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company's stock valued at $251,000 after acquiring an additional 296 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Bentley Systems by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company's stock worth $2,532,000 after acquiring an additional 305 shares during the period. Lansforsakringar Fondforvaltning AB publ increased its stake in Bentley Systems by 0.7% in the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 50,048 shares of the company's stock valued at $1,910,000 after purchasing an additional 326 shares in the last quarter. National Pension Service increased its stake in Bentley Systems by 63.0% in the 4th quarter. National Pension Service now owns 880 shares of the company's stock valued at $34,000 after purchasing an additional 340 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Bentley Systems by 63.7% during the fourth quarter. Global Retirement Partners LLC now owns 889 shares of the company's stock worth $34,000 after purchasing an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Down 2.3%

BSY stock opened at $32.34 on Friday. The stock has a market capitalization of $9.45 billion, a P/E ratio of 36.75, a PEG ratio of 2.13 and a beta of 1.00. 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 one year low of $28.08 and a one year high of $59.25. The company has a 50 day moving average price of $31.72 and a two-hundred day moving average price of $34.48.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $424.18 million for the quarter, compared to analysts' expectations of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BSY shares. Barclays lowered their price objective 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. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a report on Thursday, June 18th. They issued an "outperform" rating and a $40.00 price target on the stock. Mizuho lowered 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. Zacks Research cut shares of Bentley Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Finally, UBS Group cut their price objective on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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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