Swedbank AB Increases Stake in Bentley Systems, Incorporated $BSY

Key Points

• Swedbank AB increased its stake in Bentley Systems by 18.5% in Q4 to 8,589,201 shares (about 2.94% ownership) valued at roughly $327.8 million.
• Bentley reported Q results with $391.6M revenue (up 11.9% YoY) and $0.27 EPS in line with estimates; the stock has a market cap of about $9.67 billion and a PE of 38.55.
• The company pays a quarterly dividend of $0.07 (annualized $0.28, ~0.8% yield) and holds a MarketBeat consensus rating of "Moderate Buy" with a $48.50 target amid mixed analyst revisions.

Swedbank AB increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,589,201 shares of the company's stock after buying an additional 1,338,706 shares during the period. Swedbank AB owned about 2.94% of Bentley Systems worth $327,807,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BSY. AGF Management Ltd. lifted its stake 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 purchasing an additional 70,650 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Bentley Systems in the 3rd quarter valued at $122,028,000. Rakuten Investment Management Inc. purchased a new stake in shares of Bentley Systems in the third quarter valued at about $4,305,000. Envestnet Asset Management Inc. lifted its position in Bentley Systems by 5.7% during 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, Baillie Gifford & Co. lifted its holdings in shares of Bentley Systems by 54,633.0% during the fourth quarter. Baillie Gifford & Co. now owns 298,295 shares of the company's stock worth $11,384,000 after purchasing an additional 297,750 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Trading Down 1.3%

NASDAQ:BSY opened at $33.15 on Wednesday. The company has a market capitalization of $9.67 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.26 and a beta of 1.01. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. Bentley Systems, Incorporated has a 52-week low of $30.83 and a 52-week high of $59.25. The stock has a fifty day simple moving average of $35.56 and a 200-day simple moving average of $39.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $381.79 million. During the same period in the prior year, the company earned $0.21 EPS. The firm's revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Bentley Systems, Incorporated will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were given a $0.07 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Bentley Systems's dividend payout ratio is currently 32.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BSY shares. Weiss Ratings lowered Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, April 15th. Mizuho lowered their price target on shares of Bentley Systems from $62.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. Rosenblatt Securities reduced their price objective on shares of Bentley Systems from $58.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. UBS Group decreased their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Zacks Research upgraded shares of Bentley Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.50.

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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