Bentley Systems, Incorporated $BSY Shares Purchased by Cwm LLC

Key Points

• Cwm LLC increased its stake in Bentley Systems by 19.2% during the 2nd quarter, now holding 45,793 shares worth approximately $2.47 million.
• Bentley Systems reported $0.32 EPS for the last quarter, exceeding analyst expectations, with a revenue of $364.11 million, marking a 10.2% increase year-over-year.
• The company declared a quarterly dividend of $0.07 per share, resulting in an annualized dividend yield of 0.5%, with a payout ratio of 35.44%.

Cwm LLC increased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 19.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,793 shares of the company's stock after purchasing an additional 7,380 shares during the period. Cwm LLC's holdings in Bentley Systems were worth $2,471,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of Bentley Systems during the 1st quarter worth approximately $920,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bentley Systems by 99.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after purchasing an additional 706 shares during the last quarter. Bessemer Group Inc. raised its holdings in Bentley Systems by 8,187,760.9% in the 1st 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 during the last quarter. Cooper Investors PTY Ltd. acquired a new position in Bentley Systems in the 1st quarter valued at $4,765,000. Finally, DAVENPORT & Co LLC raised its holdings in Bentley Systems by 13.2% in the 1st quarter. DAVENPORT & Co LLC now owns 9,331 shares of the company's stock valued at $367,000 after acquiring an additional 1,091 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Up 2.0%

Shares of NASDAQ BSY opened at $51.30 on Friday. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The firm has a fifty day moving average of $52.97 and a 200-day moving average of $50.74. The stock has a market capitalization of $14.98 billion, a PE ratio of 64.94, a P/E/G ratio of 4.14 and a beta of 1.07. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $364.11 million during the quarter, compared to analysts' expectations of $363.51 million. During the same period in the previous year, the company earned $0.31 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on BSY shares. Barclays started coverage on Bentley Systems in a report on Tuesday, October 7th. They issued an "equal weight" rating and a $57.00 price target for the company. The Goldman Sachs Group boosted their price target on Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a report on Thursday, August 7th. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. UBS Group boosted their price target on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Robert W. Baird set a $64.00 price target on Bentley Systems and gave the company an "outperform" rating in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.64.

About Bentley Systems

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.

Want to see what other hedge funds are holding BSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bentley Systems, Incorporated (NASDAQ:BSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.