Bentley Systems, Incorporated $BSY Shares Bought by Comerica Bank

Key Points

• Comerica Bank boosted its stake in Bentley Systems by 106.8% in Q4, buying 31,576 shares to hold 61,147 shares valued at about $2.33 million.
• Research analysts show mixed revisions but the consensus rating is “Moderate Buy” with a mean price target of $48.50, above the current share price.
• Bentley reported Q4 EPS $0.27 (in line with estimates) and revenue of $391.6M, up 11.9% year-over-year, and pays a $0.07 quarterly dividend (≈0.8% yield).

Comerica Bank raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 106.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,147 shares of the company's stock after buying an additional 31,576 shares during the quarter. Comerica Bank's holdings in Bentley Systems were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BSY. AGF Management Ltd. raised its holdings in shares of Bentley Systems by 64.2% in the third quarter. AGF Management Ltd. now owns 180,633 shares of the company's stock worth $9,299,000 after buying an additional 70,650 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Bentley Systems in the 3rd quarter valued at $122,028,000. Rakuten Investment Management Inc. acquired a new position in shares of Bentley Systems in the 3rd quarter valued at $4,305,000. Baillie Gifford & Co. lifted its position 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 period. Finally, Envestnet Asset Management Inc. lifted its position in Bentley Systems by 5.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company's stock worth $49,157,000 after acquiring an additional 51,883 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on BSY. Weiss Ratings downgraded Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 15th. Robert W. Baird set a $55.00 target price on Bentley Systems in a report on Wednesday, January 7th. UBS Group cut their price target on shares of Bentley Systems from $43.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday. Barclays raised their price target on shares of Bentley Systems from $47.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Friday, March 6th. Finally, Rosenblatt Securities decreased their price objective on shares of Bentley Systems from $58.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.50.

Bentley Systems Stock Down 1.3%

Shares of BSY opened at $33.15 on Wednesday. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 2.26 and a beta of 1.01. Bentley Systems, Incorporated has a 52 week low of $30.83 and a 52 week high of $59.25. The stock's 50-day moving average price is $35.56 and its 200-day moving average price is $39.10. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.05.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The company had revenue of $391.58 million during the quarter, compared to the consensus estimate of $381.79 million. During the same period in the previous year, the company posted $0.21 earnings per share. Bentley Systems's revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 1.23 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, March 10th. Bentley Systems's payout ratio is currently 32.56%.

Bentley Systems Company 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.

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