Bentley Systems, Incorporated $BSY Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank cut its Bentley Systems stake by 27.4% in the first quarter, selling 119,800 shares and retaining 317,800 shares valued at approximately $11.2 million. Institutional investors collectively own 44.16% of BSY.
• Analyst sentiment is mixed: nine analysts rate the stock a Buy, four a Hold, and two a Sell, resulting in a consensus Hold rating and a $45 price target.
• Bentley Systems reported quarterly revenue of $424.18 million, up 14.5% year over year, and EPS of $0.38, exceeding estimates. The company also pays a quarterly dividend of $0.07, or $0.28 annually, for a 0.9% yield.

Swiss National Bank trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 27.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 317,800 shares of the company's stock after selling 119,800 shares during the quarter. Swiss National Bank owned 0.11% of Bentley Systems worth $11,161,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aurora Investment Counsel acquired a new position in shares of Bentley Systems in the 1st quarter valued at approximately $1,763,000. Future Fund LLC raised its holdings in Bentley Systems by 27.2% in the first quarter. Future Fund LLC now owns 47,599 shares of the company's stock valued at $1,672,000 after acquiring an additional 10,175 shares in the last quarter. Copeland Capital Management LLC raised its holdings in Bentley Systems by 36.9% in the first quarter. Copeland Capital Management LLC now owns 687,682 shares of the company's stock valued at $24,151,000 after acquiring an additional 185,480 shares in the last quarter. Assetmark Inc. boosted its stake in Bentley Systems by 603.7% during the 1st quarter. Assetmark Inc. now owns 5,770 shares of the company's stock valued at $203,000 after acquiring an additional 4,950 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Bentley Systems by 36.2% during the 1st quarter. Bessemer Group Inc. now owns 2,600,241 shares of the company's stock valued at $91,320,000 after acquiring an additional 691,806 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BSY. BMO Capital Markets set a $41.00 target price on shares of Bentley Systems in a research report on Friday. Weiss Ratings cut shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, July 16th. Mizuho decreased their price target on Bentley Systems from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. UBS Group lowered their price objective on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Finally, Piper Sandler upgraded Bentley Systems from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $42.00 to $45.00 in a research note on Friday, May 8th. Nine equities 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 company. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of "Hold" and a consensus price target of $45.00.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $31.40 on Monday. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 2.02 and a beta of 1.00. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $59.25. The company's fifty day moving average is $31.61 and its two-hundred day moving average is $34.19. 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 (NASDAQ:BSY - Get Free Report) last posted its quarterly 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. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. During the same period in the previous year, the business posted $0.35 EPS. The company's quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently announced 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 was Tuesday, June 2nd. Bentley Systems's payout ratio is presently 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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