Pictet Asset Management Holding SA Has $70.92 Million Position in Bentley Systems, Incorporated $BSY

Pictet Asset Management Holding SA reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,858,105 shares of the company's stock after selling 1,175,249 shares during the period. Pictet Asset Management Holding SA owned about 0.64% of Bentley Systems worth $70,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BSY. William Blair Investment Management LLC acquired a new stake in shares of Bentley Systems in the 3rd quarter valued at approximately $150,903,000. Manning & Napier Advisors LLC acquired a new stake in shares of Bentley Systems in the 3rd quarter valued at approximately $122,028,000. Vanguard Group Inc. boosted its position in Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company's stock worth $957,922,000 after buying an additional 1,792,591 shares during the period. Bessemer Group Inc. boosted its position in Bentley Systems by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company's stock worth $127,986,000 after buying an additional 534,776 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Bentley Systems by 303.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 627,165 shares of the company's stock worth $32,286,000 after buying an additional 471,845 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSY has been the topic of several recent research reports. Rosenblatt Securities cut their target price on shares of Bentley Systems from $58.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, February 24th. Zacks Research upgraded shares of Bentley Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 22nd. Mizuho cut their target price on shares of Bentley Systems from $62.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Oppenheimer cut their target price on shares of Bentley Systems from $53.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings downgraded shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.50.

Bentley Systems Stock Down 1.6%

Bentley Systems stock opened at $32.32 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56. Bentley Systems, Incorporated has a 52-week low of $30.83 and a 52-week high of $59.25. The firm has a 50 day moving average price of $35.63 and a two-hundred day moving average price of $39.47. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 2.20 and a beta of 1.16.

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

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.28 annualized dividend and a yield of 0.9%. Bentley Systems's dividend payout ratio (DPR) is presently 32.56%.

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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