Ilmarinen Mutual Pension Insurance Co Sells 28,000 Shares of Bentley Systems, Incorporated $BSY

Ilmarinen Mutual Pension Insurance Co reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 83.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the company’s stock after selling 28,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Bentley Systems were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BSY. Geneos Wealth Management Inc. raised its stake in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares in the last quarter. National Pension Service bought a new stake in Bentley Systems during the third quarter worth approximately $28,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in Bentley Systems during the fourth quarter worth approximately $34,000. Global Retirement Partners LLC grew its holdings in Bentley Systems by 63.7% during the fourth quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock valued at $34,000 after purchasing an additional 346 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Bentley Systems in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Up 1.4%

Shares of BSY stock opened at $32.64 on Friday. The firm has a market capitalization of $9.54 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.09 and a beta of 1.01. Bentley Systems, Incorporated has a 1 year low of $30.52 and a 1 year high of $59.25. The firm’s fifty day simple moving average is $33.85 and its 200 day simple moving average is $36.94. 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 (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. During the same period in the prior year, the firm earned $0.35 EPS. The business’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 1.19 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BSY. UBS Group reduced their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Oppenheimer dropped their target price on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Finally, Weiss Ratings lowered Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.00.

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.