Kornitzer Capital Management Inc. KS Buys Shares of 58,000 Bentley Systems, Incorporated $BSY

Kornitzer Capital Management Inc. KS bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,000 shares of the company’s stock, valued at approximately $2,037,000.

A number of other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted 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 worth $26,000 after purchasing an additional 627 shares during the period. Invesco Ltd. grew its position in Bentley Systems by 2.6% during the second quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock valued at $20,242,000 after buying an additional 9,557 shares during the period. First Trust Advisors LP increased its holdings in Bentley Systems by 97.5% during the second quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock valued at $8,670,000 after buying an additional 79,286 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Bentley Systems during the second quarter valued at approximately $212,000. Finally, Cresset Asset Management LLC bought a new position in Bentley Systems in the second quarter worth approximately $248,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Price Performance

BSY stock opened at $31.67 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The company’s fifty day moving average price is $31.80 and its 200-day moving average price is $34.69. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $59.25. The company has a market capitalization of $9.26 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts anticipate that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

Analyst Upgrades and Downgrades

BSY has been the subject of several analyst reports. Bank of America began coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 30th. BNP Paribas Exane assumed coverage on Bentley Systems in a report on Thursday, June 18th. They set an “outperform” rating and a $40.00 price target for the company. Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, UBS Group decreased their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus price target of $45.54.

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.