Impax Asset Management Group plc Has $83.15 Million Stock Position in Bentley Systems, Incorporated $BSY

Key Points

• Impax Asset Management boosted its stake in Bentley Systems by 12.1% to 2,178,670 shares, a holding worth about $83.15 million (roughly 0.75% of the company).
• Quarterly results: Bentley reported $0.27 EPS (in line with estimates) and revenue of $391.6 million, up 11.9% year-over-year and above the consensus estimate.
• Valuation and analyst view: BSY trades near $33.44 with a $9.76 billion market cap and a ~39x PE, while analysts rate it a "Moderate Buy" with a consensus target of $48.50.

Impax Asset Management Group plc lifted its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 12.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,178,670 shares of the company's stock after purchasing an additional 234,998 shares during the quarter. Impax Asset Management Group plc owned 0.75% of Bentley Systems worth $83,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BSY. Geneos Wealth Management Inc. boosted its position in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after purchasing an additional 627 shares during the period. Invesco Ltd. boosted its position in shares of Bentley Systems by 2.6% in the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company's stock valued at $20,242,000 after purchasing an additional 9,557 shares during the period. First Trust Advisors LP boosted its position in shares of Bentley Systems by 97.5% in the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company's stock valued at $8,670,000 after purchasing an additional 79,286 shares during the period. Brown Advisory Inc. purchased a new stake in Bentley Systems in the 2nd quarter worth about $212,000. Finally, Cresset Asset Management LLC purchased a new stake in Bentley Systems in the 2nd quarter worth about $248,000. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Stock Up 2.4%

BSY opened at $33.44 on Friday. Bentley Systems, Incorporated has a fifty-two week low of $30.83 and a fifty-two week high of $59.25. The business has a 50-day moving average of $35.67 and a 200-day moving average of $39.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $9.76 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, hitting analysts' consensus estimates of $0.27. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The company had revenue of $391.58 million during the quarter, compared to the consensus estimate of $381.79 million. During the same period last year, the business earned $0.21 EPS. The business's quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that Bentley Systems, Incorporated will post 1.23 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems's dividend payout ratio (DPR) is 32.56%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BSY. Robert W. Baird set a $55.00 price objective on Bentley Systems in a research note on Wednesday, January 7th. Rosenblatt Securities reduced their price objective on Bentley Systems from $58.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. BMO Capital Markets reissued an "outperform" rating on shares of Bentley Systems in a research note on Monday, March 2nd. Mizuho reduced their price objective on Bentley Systems from $62.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. Finally, Oppenheimer reduced their price objective on Bentley Systems from $53.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.50.

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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