SEB Asset Management AB Takes $22.58 Million Position in Bentley Systems, Incorporated $BSY

Key Points

• SEB Asset Management AB opened a new position in Bentley Systems during the first quarter, buying 642,977 shares valued at about $22.58 million.
• Bentley Systems reported better-than-expected quarterly results, with EPS of $0.38 versus the $0.36 estimate and revenue of $424.18 million, up 14.5% year over year.
• Analyst sentiment remains mixed: while several firms trimmed targets or downgraded the stock, the current consensus rating is Hold with an average price target of $45.54.

SEB Asset Management AB acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 642,977 shares of the company's stock, valued at approximately $22,581,000. SEB Asset Management AB owned about 0.22% of Bentley Systems at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Aurora Investment Counsel acquired a new stake in shares of Bentley Systems in the first quarter worth about $1,763,000. Future Fund LLC increased its holdings in shares of Bentley Systems by 27.2% during the 1st quarter. Future Fund LLC now owns 47,599 shares of the company's stock valued at $1,672,000 after acquiring an additional 10,175 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Bentley Systems by 36.9% during the 1st quarter. Copeland Capital Management LLC now owns 687,682 shares of the company's stock valued at $24,151,000 after acquiring an additional 185,480 shares during the last quarter. Assetmark Inc. raised its stake in shares of Bentley Systems by 603.7% in the 1st quarter. Assetmark Inc. now owns 5,770 shares of the company's stock valued at $203,000 after acquiring an additional 4,950 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Bentley Systems by 36.2% in the 1st quarter. Bessemer Group Inc. now owns 2,600,241 shares of the company's stock valued at $91,320,000 after acquiring an additional 691,806 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $32.34 on Monday. The company's fifty day simple moving average is $31.72 and its 200-day simple moving average is $34.44. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.08 and a beta of 1.00. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems, Incorporated has a 1 year low of $28.08 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 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million during the quarter, compared to analysts' expectations of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Bentley Systems's payout ratio is presently 31.82%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BSY shares. Weiss Ratings cut Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday. Zacks Research lowered shares of Bentley Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Barclays reduced their price objective on shares of 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. Mizuho decreased their price objective 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, Piper Sandler upgraded shares of Bentley Systems from a "neutral" rating to an "overweight" rating and raised their target price for the company from $42.00 to $45.00 in a research note on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.54.

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.