Mitsubishi UFJ Asset Management Co. Ltd. Buys 33,456 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Bentley Systems by 25.1% in the fourth quarter, adding 33,456 shares to reach 166,493 shares valued at about $6.35 million.
• Bentley Systems recently reported better-than-expected Q1 results, with EPS of $0.38 and revenue of $424.2 million, both ahead of analyst estimates. Revenue rose 14.5% year over year.
• Analyst sentiment remains mixed but generally positive, with an average rating of “Moderate Buy” and a consensus price target of $48.33, though some firms have recently trimmed targets or turned more cautious.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 25.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,493 shares of the company's stock after acquiring an additional 33,456 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.06% of Bentley Systems worth $6,352,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. National Pension Service purchased a new stake in shares of Bentley Systems in the 3rd quarter worth $28,000. Baillie Gifford & Co. bought a new stake in Bentley Systems during the third quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its holdings 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 buying an additional 627 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Bentley Systems in the third quarter valued at approximately $37,000. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Bentley Systems during the third quarter worth $39,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

NASDAQ BSY opened at $32.76 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $9.58 billion, a P/E ratio of 37.23, a P/E/G ratio of 2.20 and a beta of 1.01. The stock has a 50-day moving average of $35.58 and a two-hundred day moving average of $38.84. Bentley Systems, Incorporated has a 1-year low of $30.83 and a 1-year high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results 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 company had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. During the same period in the prior year, the business earned $0.35 EPS. The firm's quarterly revenue was up 14.5% on a year-over-year basis. As a group, analysts anticipate that Bentley Systems, Incorporated will post 1.23 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 10th. Bentley Systems's dividend payout ratio (DPR) is presently 31.82%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BSY. BMO Capital Markets restated an "outperform" rating on shares of Bentley Systems in a research note on Monday, March 2nd. UBS Group dropped their price target on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating on the stock in a research note on Monday, May 4th. 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. Zacks Research upgraded shares of Bentley Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings cut shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.33.

Key Bentley Systems News

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Bentley Systems reported Q1 earnings of $0.38 per share, beating estimates of $0.36, while revenue of $424.2 million also topped expectations. Sales rose 14.5% year over year, suggesting continued healthy demand for the company’s software. Earnings transcript
• Positive Sentiment: Mizuho kept an outperform rating on Bentley Systems and still sees upside from current levels, which may help support sentiment despite the lower target. Benzinga report
• Neutral Sentiment: The company’s earnings call transcript and presentation are in focus as investors look for commentary on growth trends, margins, and full-year guidance following the report. Yahoo Finance transcript
• Negative Sentiment: Mizuho lowered its price target on Bentley Systems from $50 to $45, a sign that analysts are becoming slightly more cautious about the stock’s near-term valuation. Mizuho price-target update

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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