Bentley Systems, Incorporated $BSY Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP cut its Bentley Systems stake by 58.3% in the first quarter, selling 37,534 shares and retaining 26,882 shares valued at approximately $944,000.
• Institutional ownership remains significant at 44.16%, with Arrowstreet Capital and Pictet Asset Management sharply increasing their positions while Norges Bank and Madison Asset Management initiated new stakes.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $45 target price. Bentley Systems recently exceeded quarterly earnings and revenue expectations, reporting $0.38 EPS and $424.18 million in revenue, while maintaining a quarterly dividend of $0.07 per share.

Entropy Technologies LP decreased its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 58.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,882 shares of the company's stock after selling 37,534 shares during the quarter. Entropy Technologies LP's holdings in Bentley Systems were worth $944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in Bentley Systems by 253.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company's stock valued at $167,924,000 after acquiring an additional 3,429,087 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Bentley Systems by 150.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company's stock worth $163,703,000 after purchasing an additional 2,803,241 shares in the last quarter. Norges Bank acquired a new stake in shares of Bentley Systems during the 4th quarter worth approximately $68,766,000. Swedbank AB grew its stake in shares of Bentley Systems by 18.5% during the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company's stock worth $327,807,000 after purchasing an additional 1,338,706 shares during the period. Finally, Madison Asset Management LLC acquired a new stake in shares of Bentley Systems during the 1st quarter worth approximately $34,466,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on BSY. Bank of America started coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They issued a "buy" rating and a $40.00 target price for the company. Zacks Research lowered shares of Bentley Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Weiss Ratings cut shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 16th. Piper Sandler upgraded shares of Bentley Systems from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Finally, Barclays decreased their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $45.00.

Bentley Systems Stock Performance

NASDAQ BSY opened at $35.84 on Wednesday. The company has a market cap of $10.48 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. The stock's 50 day simple moving average is $31.67 and its 200-day simple moving average is $34.12. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $59.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51.

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

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems's payout ratio is 31.82%.

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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