Fifth Third Bancorp Raises Holdings in Bentley Systems, Incorporated $BSY

Fifth Third Bancorp lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 2,627.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,336 shares of the company's stock after buying an additional 50,417 shares during the quarter. Fifth Third Bancorp's holdings in Bentley Systems were worth $1,838,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Bentley Systems by 54,633.0% in the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company's stock valued at $11,384,000 after purchasing an additional 297,750 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Bentley Systems in the 4th quarter worth approximately $6,822,000. Comerica Bank boosted its stake in shares of Bentley Systems by 106.8% during the fourth quarter. Comerica Bank now owns 61,147 shares of the company's stock valued at $2,334,000 after purchasing an additional 31,576 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Bentley Systems by 25.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,493 shares of the company's stock valued at $6,352,000 after purchasing an additional 33,456 shares in the last quarter. Finally, Danske Bank A S increased its holdings in Bentley Systems by 74.5% during the fourth quarter. Danske Bank A S now owns 78,204 shares of the company's stock valued at $2,985,000 after buying an additional 33,400 shares during the period. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BSY shares. Piper Sandler upgraded Bentley Systems from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $42.00 to $45.00 in a report on Friday, May 8th. Weiss Ratings cut Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, July 16th. Zacks Research downgraded Bentley Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Barclays cut their target price on Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Friday, May 29th. Finally, UBS Group reduced their target price on shares of Bentley Systems from $43.00 to $40.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $45.54.

Bentley Systems Stock Performance

Shares of BSY stock opened at $29.74 on Thursday. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $59.25. The business's fifty day simple moving average is $31.65 and its 200-day simple moving average is $34.29. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. The company has a market cap of $8.69 billion, a PE ratio of 33.80, a PEG ratio of 2.01 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter last year, the firm earned $0.35 EPS. The business's quarterly revenue was up 14.5% on a year-over-year basis. Analysts expect that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems's dividend payout ratio (DPR) is currently 31.82%.

Bentley Systems 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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