Vanguard Group Inc. Sells 2,161,340 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Vanguard sold 2,161,340 shares of Bentley in Q4, trimming its stake by 11.6% to 16,446,317 shares (a 5.63% position) valued at about $627.7 million.
• Bentley beat revenue expectations with $391.6 million and reported EPS of $0.27 for the quarter, and the company trades with a market cap of $9.79 billion and a P/E of about 39.
• Analysts have trimmed targets recently (e.g., UBS to $40, Oppenheimer to $43) but the consensus is a Moderate Buy with an average price target around $48.50.

Vanguard Group Inc. lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,446,317 shares of the company's stock after selling 2,161,340 shares during the quarter. Vanguard Group Inc. owned 5.63% of Bentley Systems worth $627,674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSY. Shell Asset Management Co. boosted its holdings in Bentley Systems by 4.8% during the 3rd quarter. Shell Asset Management Co. now owns 5,421 shares of the company's stock worth $279,000 after acquiring an additional 246 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Bentley Systems by 2.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company's stock worth $589,000 after buying an additional 247 shares during the last quarter. BLB&B Advisors LLC boosted its holdings in shares of Bentley Systems by 0.5% in the 3rd quarter. BLB&B Advisors LLC now owns 52,361 shares of the company's stock worth $2,696,000 after buying an additional 261 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Bentley Systems by 0.6% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company's stock worth $2,560,000 after buying an additional 275 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in Bentley Systems by 6.5% in the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company's stock valued at $251,000 after acquiring an additional 296 shares during the period. Institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

Shares of BSY stock opened at $33.56 on Monday. The stock has a fifty day moving average of $35.57 and a 200 day moving average of $39.22. Bentley Systems, Incorporated has a 52 week low of $30.83 and a 52 week high of $59.25. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.25 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 (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.27. The business had revenue of $391.58 million during the quarter, compared to the consensus estimate of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, research analysts expect that Bentley Systems, Incorporated will post 1.23 earnings per share for the current year.

Bentley Systems Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BSY shares. UBS Group lowered their price objective on Bentley Systems from $60.00 to $40.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Oppenheimer decreased their price objective 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. Zacks Research upgraded shares of Bentley Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 22nd. Piper Sandler reduced their price target on shares of Bentley Systems from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday, March 2nd. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Bentley Systems in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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