Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 131,881 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Fjarde AP Fonden sharply cut its Bentley Systems stake by 99.2% in the first quarter, selling 131,881 shares and leaving it with just 1,125 shares worth about $40,000.
• Bentley Systems reported better-than-expected Q1 results, with EPS of $0.38 versus $0.36 expected and revenue of $424.18 million, up 14.5% from a year earlier.
• Analyst sentiment remains constructive overall, with a Moderate Buy consensus and a price target of $45.54, while the company also paid a quarterly dividend of $0.07 per share.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 99.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,125 shares of the company's stock after selling 131,881 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Bentley Systems were worth $40,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BSY. Cresset Asset Management LLC lifted its stake in Bentley Systems by 6.5% in the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company's stock valued at $251,000 after purchasing an additional 296 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Bentley Systems by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company's stock valued at $2,532,000 after purchasing an additional 305 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its holdings in Bentley Systems by 0.7% in the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 50,048 shares of the company's stock valued at $1,910,000 after buying an additional 326 shares during the last quarter. National Pension Service grew its holdings in Bentley Systems by 63.0% during the 4th quarter. National Pension Service now owns 880 shares of the company's stock worth $34,000 after acquiring an additional 340 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Bentley Systems by 63.7% in the 4th quarter. Global Retirement Partners LLC now owns 889 shares of the company's stock valued at $34,000 after acquiring an additional 346 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Price Performance

BSY stock opened at $33.62 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The business has a 50-day simple moving average of $31.88 and a two-hundred day simple moving average of $34.92. The company has a market capitalization of $9.82 billion, a P/E ratio of 38.02, a price-to-earnings-growth ratio of 2.07 and a beta of 1.00. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business's revenue was up 14.5% compared to the same quarter last year. Research analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a yield of 0.8%. Bentley Systems's payout ratio is currently 31.82%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler raised shares of Bentley Systems from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. Weiss Ratings upgraded Bentley Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 30th. 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. Barclays lowered 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 assumed coverage on Bentley Systems in a 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, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.54.

About Bentley Systems

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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