Bentley Systems, Incorporated $BSY Stock Holdings Boosted by Cannon Global Investment Management LLC

Key Points

• Cannon Global Investment Management LLC increased its stake in Bentley Systems by 110.6%, holding 27,800 shares valued at approximately $1.5 million.
• Bentley Systems reported a 10.2% increase in quarterly revenue year-over-year, totaling $364.11 million, with earnings per share of $0.32.
• The company recently declared a quarterly dividend of $0.07 per share, resulting in an annualized dividend of $0.28 and a yield of 0.5%.

Cannon Global Investment Management LLC boosted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 110.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,800 shares of the company's stock after purchasing an additional 14,600 shares during the period. Bentley Systems makes up approximately 3.1% of Cannon Global Investment Management LLC's portfolio, making the stock its 2nd biggest holding. Cannon Global Investment Management LLC's holdings in Bentley Systems were worth $1,500,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BSY. Applied Finance Capital Management LLC purchased a new position in shares of Bentley Systems in the 2nd quarter valued at $380,000. CWM LLC raised its stake in shares of Bentley Systems by 19.2% in the 2nd quarter. CWM LLC now owns 45,793 shares of the company's stock valued at $2,471,000 after acquiring an additional 7,380 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Bentley Systems by 32.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,178 shares of the company's stock valued at $1,359,000 after acquiring an additional 6,135 shares during the period. Aberdeen Group plc purchased a new position in shares of Bentley Systems in the 2nd quarter valued at $201,000. Finally, Blue Trust Inc. raised its stake in shares of Bentley Systems by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 1,305 shares of the company's stock valued at $70,000 after acquiring an additional 211 shares during the period. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Price Performance

Shares of BSY stock opened at $51.30 on Friday. The firm has a market cap of $14.98 billion, a P/E ratio of 64.94, a P/E/G ratio of 4.06 and a beta of 1.07. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The firm has a fifty day moving average of $52.97 and a two-hundred day moving average of $50.68.

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 for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. As a group, research analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BSY shares. The Goldman Sachs Group raised their target price on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday, August 7th. UBS Group raised their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bentley Systems in a report on Wednesday, October 8th. Robert W. Baird set a $64.00 price target on shares of Bentley Systems and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Barclays assumed coverage on shares of Bentley Systems in a report on Tuesday, October 7th. They set an "equal weight" rating and a $57.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.64.

Bentley Systems Company Profile

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.

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