Sumitomo Mitsui Trust Group Inc. Buys 33,312 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Sumitomo Mitsui Trust Group increased its stake in Bentley Systems by 9.8% in Q4, buying 33,312 shares to hold 372,134 shares valued at about $14.2 million (≈0.13% of the company).
• Bentley reported Q4 EPS of $0.27 (in line with estimates) and revenue of $391.6 million (+11.9% YoY), with a 18.5% net margin and 28.82% ROE; analysts expect ~0.88 EPS for the fiscal year.
• The stock trades well below its 52‑week high ($59.25) at recent levels (~$35), with a $10.23 billion market cap and P/E of ~40.8; consensus rating is "Hold" with a $48.50 target, and the company pays a $0.28 annual dividend (0.8% yield).

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 372,134 shares of the company's stock after purchasing an additional 33,312 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.13% of Bentley Systems worth $14,202,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. AGF Management Ltd. grew its position in Bentley Systems by 64.2% during the third quarter. AGF Management Ltd. now owns 180,633 shares of the company's stock worth $9,299,000 after buying an additional 70,650 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Bentley Systems in the 3rd quarter valued at approximately $122,028,000. Rakuten Investment Management Inc. acquired a new position in Bentley Systems in the 3rd quarter valued at approximately $4,305,000. Envestnet Asset Management Inc. lifted its position in shares of Bentley Systems by 5.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company's stock worth $49,157,000 after acquiring an additional 51,883 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Bentley Systems by 90.8% in the 3rd quarter. Pacer Advisors Inc. now owns 676,740 shares of the company's stock worth $34,839,000 after acquiring an additional 322,012 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Stock Performance

Bentley Systems stock opened at $35.08 on Friday. Bentley Systems, Incorporated has a 52-week low of $30.83 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a fifty day moving average price of $35.67 and a two-hundred day moving average price of $40.58. The firm has a market capitalization of $10.23 billion, a P/E ratio of 40.79, a P/E/G ratio of 2.33 and a beta of 1.16.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share 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 business had revenue of $391.58 million for the quarter, compared to analyst estimates of $381.79 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems's dividend payout ratio (DPR) is currently 32.56%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Rosenblatt Securities lowered their price objective on Bentley Systems from $58.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, February 24th. Piper Sandler reduced their target price on Bentley Systems from $45.00 to $42.00 and set a "neutral" rating for the company in a research report on Monday, March 2nd. BMO Capital Markets reiterated an "outperform" rating on shares of Bentley Systems in a research note on Monday, March 2nd. Robert W. Baird set a $55.00 price target on shares of Bentley Systems in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada dropped their price objective on shares of Bentley Systems from $65.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, January 5th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $48.50.

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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