Legal & General Group Plc Grows Position in Bentley Systems, Incorporated $BSY

Key Points

• Legal & General Group Plc increased its stake in Bentley Systems by 10.5% in the fourth quarter, buying an additional 79,894 shares and bringing its holdings to 839,300 shares valued at about $32.0 million.
• Bentley Systems reported stronger-than-expected quarterly results, with EPS of $0.38 versus the $0.36 consensus and revenue of $424.2 million, up 14.5% from a year earlier.
• The company also announced a quarterly dividend of $0.07 per share, while analysts currently hold a consensus rating of “Hold” with an average price target of $47.00.

Legal & General Group Plc increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 839,300 shares of the company's stock after purchasing an additional 79,894 shares during the period. Legal & General Group Plc owned approximately 0.29% of Bentley Systems worth $32,032,000 at the end of the most recent quarter.

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

Bentley Systems Stock Up 1.4%

Shares of Bentley Systems stock opened at $32.64 on Friday. The firm's 50 day moving average price is $33.85 and its 200-day moving average price is $36.94. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems, Incorporated has a 52-week low of $30.52 and a 52-week high of $59.25. The company has a market cap of $9.54 billion, a P/E ratio of 37.09, a PEG ratio of 2.12 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $419.80 million. During the same quarter in the previous year, the firm earned $0.35 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems's payout ratio is presently 31.82%.

Analyst Ratings Changes

Several research firms have recently commented on BSY. Rosenblatt Securities reduced their price target on shares of Bentley Systems from $58.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, February 24th. UBS Group reduced their price target 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. Oppenheimer reduced their price target on shares of Bentley Systems from $53.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Mizuho reduced their price target on shares of Bentley Systems from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, May 8th. Finally, Barclays reduced their price target on shares of Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating for the company in a report on Friday. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $47.00.

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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