Madison Asset Management LLC Purchases New Holdings in Bentley Systems, Incorporated $BSY

Key Points

• Madison Asset Management acquired 1.37 million Bentley Systems shares worth approximately $40.8 million, representing about 0.47% of the company.
• Institutional investors collectively own 44.16% of Bentley Systems, while the stock recently traded at $35.92—well below its 12-month high of $57.25.
• Bentley Systems exceeded quarterly EPS expectations, reporting $0.35 versus $0.32 forecast, and revenue rose 12.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $45.

Madison Asset Management LLC acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,365,230 shares of the company's stock, valued at approximately $40,807,000. Madison Asset Management LLC owned approximately 0.47% of Bentley Systems at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cresset Asset Management LLC lifted its holdings in shares of Bentley Systems by 6.5% during the third 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 grew its stake 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 last quarter. Lansforsakringar Fondforvaltning AB publ grew its stake in shares of Bentley Systems by 0.7% in the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 50,048 shares of the company's stock worth $1,910,000 after buying an additional 326 shares during the last quarter. National Pension Service increased its position in Bentley Systems by 63.0% during the 4th quarter. National Pension Service now owns 880 shares of the company's stock valued at $34,000 after buying an additional 340 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in Bentley Systems by 63.7% during the 4th quarter. Global Retirement Partners LLC now owns 889 shares of the company's stock valued at $34,000 after buying an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

BSY stock opened at $35.92 on Thursday. The stock's 50 day simple moving average is $32.52 and its 200 day simple moving average is $33.79. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $57.25. The stock has a market capitalization of $10.44 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 2.20 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The business had revenue of $410.73 million during the quarter, compared to analyst estimates of $412.12 million. During the same quarter last year, the company earned $0.32 EPS. The company's quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts forecast that Bentley Systems, Incorporated will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on BSY. UBS Group dropped their target price on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Mizuho reduced their price target on Bentley Systems from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, May 8th. BMO Capital Markets lifted their price target on Bentley Systems from $41.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They issued an "outperform" rating and a $40.00 price target on the stock. Finally, Weiss Ratings downgraded shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, July 16th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.

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