Janus Henderson Group PLC Increases Stock Position in Bentley Systems, Incorporated $BSY

Janus Henderson Group PLC increased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 999.5% during the first quarter, Holdings Channel.com reports. The firm owned 75,500 shares of the company’s stock after buying an additional 68,633 shares during the period. Janus Henderson Group PLC’s holdings in Bentley Systems were worth $2,652,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in Bentley Systems by 253.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock worth $167,924,000 after buying an additional 3,429,087 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Bentley Systems by 150.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock valued at $163,703,000 after acquiring an additional 2,803,241 shares in the last quarter. Norges Bank purchased a new position in shares of Bentley Systems in the 4th quarter valued at $68,766,000. Swedbank AB increased its holdings in shares of Bentley Systems by 18.5% in the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after acquiring an additional 1,338,706 shares during the period. Finally, Madison Asset Management LLC bought a new position in shares of Bentley Systems in the 1st quarter worth $34,466,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BSY shares. Mizuho decreased their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Piper Sandler upgraded 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 report on Friday, May 8th. Barclays decreased their price target on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. BNP Paribas Exane assumed coverage on shares of Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Bank of America began coverage on shares of Bentley Systems in a research report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Bentley Systems Stock Down 0.4%

BSY stock opened at $35.21 on Friday. The stock has a market capitalization of $10.29 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. Bentley Systems, Incorporated has a 52 week low of $28.08 and a 52 week high of $57.25. The company has a quick ratio of 0.51, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $32.14 and a 200 day moving average of $33.95.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $410.73 million for the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. Bentley Systems’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. Sell-side analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems’s payout ratio is 31.82%.

Bentley Systems News Summary

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Bentley Systems from $41 to $43 and upgraded the stock to “outperform,” implying substantial upside from recent levels. The Fly
• Positive Sentiment: Second-quarter EPS beat expectations: BSY reported adjusted earnings of $0.35 per share versus the $0.32 consensus and $0.32 a year earlier. Revenue increased 12.8% year over year to $410.7 million, indicating continued growth. Bentley Systems Surpasses Q2 Earnings Estimates
• Positive Sentiment: Management’s outlook is supported by strong performances from the Seequent and Power Line Systems businesses, robust small- and medium-sized business annual recurring revenue growth, and healthy net revenue retention. Improving architecture billings and non-residential construction spending may also support demand. Bentley Systems: Bullish on Q2 EPS Beat and Improving Industry Trends
• Positive Sentiment: Coverage of BSY’s AI strategy and product expansion suggests that new technology initiatives and favorable infrastructure-sector trends could provide additional longer-term growth catalysts. BSY Q2 Deep Dive
• Neutral Sentiment: The quarterly revenue result was broadly in line with expectations, but it came in modestly below the $412.1 million analyst estimate. Investors may therefore focus on future bookings, recurring-revenue trends, and guidance for evidence that growth can accelerate. BSY Q2 Earnings Results

Bentley Systems 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.