Bentley Systems, Incorporated $BSY Stake Boosted by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Bentley Systems stake by 369.4% in the first quarter, holding 165,406 shares valued at approximately $5.8 million. Other institutional investors also boosted their positions, with institutions collectively owning 44.16% of BSY.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $44.83. Nine analysts rate the stock Buy, four Hold, and one Sell.
• Bentley Systems reported quarterly EPS of $0.35, beating estimates by $0.03, while revenue rose 12.8% year over year to $410.73 million. The company also pays a quarterly dividend of $0.07, equivalent to a 0.8% annual yield.

Quantinno Capital Management LP lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 369.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,406 shares of the company's stock after purchasing an additional 130,169 shares during the quarter. Quantinno Capital Management LP owned about 0.06% of Bentley Systems worth $5,809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BSY. SummitTX Capital L.P. grew its stake in Bentley Systems by 74.9% during the 1st quarter. SummitTX Capital L.P. now owns 104,520 shares of the company's stock worth $3,671,000 after buying an additional 44,774 shares during the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Bentley Systems during the first quarter valued at $292,000. Renaissance Technologies LLC boosted its holdings in shares of Bentley Systems by 124.6% during the first quarter. Renaissance Technologies LLC now owns 487,100 shares of the company's stock valued at $17,107,000 after acquiring an additional 270,200 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Bentley Systems by 253.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company's stock worth $167,924,000 after acquiring an additional 3,429,087 shares during the last quarter. Finally, Lido Advisors LLC acquired a new stake in shares of Bentley Systems in the 1st quarter worth about $403,000. Institutional investors own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of analyst reports. BMO Capital Markets set a $41.00 target price on shares of Bentley Systems in a research note on Friday, July 24th. Mizuho dropped 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 note on Friday, May 8th. UBS Group cut their price target on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Barclays reduced their price objective on 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. Finally, BNP Paribas Exane began coverage on Bentley Systems in a research report on Thursday, June 18th. They issued an "outperform" rating and a $40.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.83.

Bentley Systems Trading Down 1.9%

Shares of BSY stock opened at $35.36 on Friday. The stock has a 50-day simple moving average of $32.09 and a 200 day simple moving average of $33.94. Bentley Systems, Incorporated has a fifty-two week low of $28.08 and a fifty-two week high of $57.25. The stock has a market capitalization of $10.34 billion, a P/E ratio of 40.18, a P/E/G ratio of 2.32 and a beta of 0.98. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $410.73 million for the quarter, compared to analysts' expectations of $412.12 million. During the same period in the previous year, the business earned $0.32 earnings per share. Bentley Systems's revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. 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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