Intech Investment Management LLC Raises Stock Holdings in Bentley Systems, Incorporated $BSY

Intech Investment Management LLC grew its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 42.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,357 shares of the company’s stock after acquiring an additional 3,074 shares during the quarter. Intech Investment Management LLC’s holdings in Bentley Systems were worth $559,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after purchasing an additional 898,115 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Bentley Systems by 1.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock valued at $636,027,000 after buying an additional 160,496 shares during the last quarter. Swedbank AB boosted its stake in shares of Bentley Systems by 1.6% during the first quarter. Swedbank AB now owns 7,119,208 shares of the company’s stock worth $280,070,000 after buying an additional 111,884 shares during the period. Geode Capital Management LLC grew its holdings in shares of Bentley Systems by 5.0% during the second quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock worth $173,877,000 after buying an additional 155,078 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Bentley Systems by 207.6% during the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after buying an additional 2,066,725 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Up 2.1%

Bentley Systems stock opened at $41.97 on Friday. The stock’s 50 day moving average price is $48.65 and its 200 day moving average price is $51.46. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The company has a market cap of $12.26 billion, a PE ratio of 49.96, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The company had revenue of $375.55 million for the quarter, compared to analyst estimates of $369.57 million. During the same period in the previous year, the firm earned $0.24 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, December 4th. Bentley Systems’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

Several research firms have commented on BSY. UBS Group upped their price objective on Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Barclays initiated coverage on Bentley Systems in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Oppenheimer boosted their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.73.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.