Lombard Odier Asset Management Europe Ltd Has $6.07 Million Stock Position in Bentley Systems, Incorporated $BSY

Key Points

• Lombard Odier Asset Management Europe slashed its Bentley Systems position by 99% in the first quarter, selling 16.3 million shares and retaining 172,956 shares worth approximately $6.07 million.
• Bentley Systems exceeded quarterly expectations, reporting earnings of $0.38 per share and revenue of $424.18 million, up 14.5% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $45, while the company pays a quarterly dividend of $0.07 per share, yielding about 0.8%.

Lombard Odier Asset Management Europe Ltd lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 99.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,956 shares of the company's stock after selling 16,309,862 shares during the quarter. Lombard Odier Asset Management Europe Ltd owned approximately 0.06% of Bentley Systems worth $6,074,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BSY. Geneos Wealth Management Inc. lifted its holdings in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after buying an additional 627 shares during the last quarter. Invesco Ltd. raised its position in Bentley Systems by 2.6% during the second quarter. Invesco Ltd. now owns 375,054 shares of the company's stock valued at $20,242,000 after acquiring an additional 9,557 shares in the last quarter. First Trust Advisors LP raised its position in Bentley Systems by 97.5% during the second quarter. First Trust Advisors LP now owns 160,644 shares of the company's stock valued at $8,670,000 after acquiring an additional 79,286 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Bentley Systems in the second quarter valued at approximately $212,000. Finally, Cresset Asset Management LLC acquired a new stake in Bentley Systems in the second quarter valued at approximately $248,000. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Stock Performance

BSY opened at $35.44 on Monday. The firm has a market capitalization of $10.36 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 2.28 and a beta of 1.00. The stock's 50 day moving average price is $31.83 and its two-hundred day moving average price is $34.03. 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 12-month low of $28.08 and a 12-month high of $58.64.

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, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analysts' expectations of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.Bentley Systems's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. On average, equities analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems's dividend payout ratio (DPR) is 31.82%.

Analyst Ratings Changes

Several research analysts have recently commented on BSY shares. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an "outperform" rating and a $40.00 price target on the stock. Mizuho lowered their target price on shares of Bentley Systems from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. BMO Capital Markets set a $41.00 target price on Bentley Systems in a report on Friday, July 24th. Zacks Research cut Bentley Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Finally, Barclays decreased their price target on Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating for the company in a research note on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of "Hold" and an average target price of $45.00.

Bentley Systems Company 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.

Want to see what other hedge funds are holding BSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bentley Systems, Incorporated (NASDAQ:BSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source