Fisher Asset Management LLC Raises Holdings in Bentley Systems, Incorporated $BSY

Key Points

• Fisher Asset Management increased its stake in Bentley Systems by 31.9% in the fourth quarter, adding 54,805 shares and bringing its total holding to 226,610 shares valued at about $8.65 million.
• Bentley Systems reported better-than-expected quarterly earnings, posting $0.38 EPS versus $0.36 expected and revenue of $424.18 million, up 14.5% year over year.
• The company declared a quarterly dividend of $0.07 per share, and analysts currently have a consensus rating of Hold with an average price target of $47.69.

Fisher Asset Management LLC increased its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 31.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 226,610 shares of the company's stock after buying an additional 54,805 shares during the quarter. Fisher Asset Management LLC owned about 0.08% of Bentley Systems worth $8,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Shell Asset Management Co. raised its position in shares of Bentley Systems by 4.8% in the 3rd quarter. Shell Asset Management Co. now owns 5,421 shares of the company's stock worth $279,000 after buying an additional 246 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Bentley Systems by 2.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company's stock worth $589,000 after buying an additional 247 shares during the period. Lansforsakringar Fondforvaltning AB publ raised its position in shares of Bentley Systems by 0.6% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company's stock worth $2,560,000 after buying an additional 275 shares during the period. Cresset Asset Management LLC raised its position in shares of Bentley Systems by 6.5% in the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company's stock worth $251,000 after buying an additional 296 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Bentley Systems by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company's stock worth $2,532,000 after buying an additional 305 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Trading Down 2.1%

NASDAQ:BSY opened at $32.06 on Thursday. The business's 50-day moving average is $34.05 and its two-hundred day moving average is $37.07. 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, Incorporated has a 12 month low of $30.52 and a 12 month high of $59.25. The firm has a market capitalization of $9.37 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 2.06 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data 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 return on equity of 28.65% and a net margin of 18.12%.The company had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. During the same period last year, the company posted $0.35 earnings per share. The firm's revenue was up 14.5% compared to the same quarter last year. Research analysts predict that Bentley Systems, Incorporated will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of $0.07 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Bentley Systems's dividend payout ratio (DPR) is currently 31.82%.

Analyst Ratings Changes

BSY has been the topic of several research reports. Oppenheimer cut their target price on Bentley Systems from $53.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Barclays increased their target price on Bentley Systems from $47.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Friday, March 6th. UBS Group cut their target price on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Piper Sandler raised Bentley Systems from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $42.00 to $45.00 in a research report on Friday, May 8th. Finally, Mizuho cut their price objective on Bentley Systems from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $47.69.

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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