Renaissance Technologies LLC Purchases 270,200 Shares of Bentley Systems, Incorporated $BSY

Renaissance Technologies LLC increased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 124.6% during the first quarter, Holdings Channel.com reports. The firm owned 487,100 shares of the company’s stock after buying an additional 270,200 shares during the period. Renaissance Technologies LLC’s holdings in Bentley Systems were worth $17,107,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Bentley Systems in the fourth quarter worth $25,000. Geneos Wealth Management Inc. grew its position in shares of Bentley Systems by 1,529.3% during 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 during the period. Physician Wealth Advisors Inc. raised its holdings in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after purchasing an additional 352 shares during the period. Royal London Asset Management Ltd. purchased a new position in Bentley Systems during the fourth quarter worth approximately $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new position in Bentley Systems during the fourth quarter worth approximately $34,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Trading Down 4.7%

BSY opened at $35.21 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The company’s 50 day simple moving average is $31.78 and its two-hundred day simple moving average is $34.07. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $58.64. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00.

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

Bentley Systems Dividend Announcement

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

Analyst Ratings Changes

BSY has been the subject of a number of recent analyst reports. Bank of America initiated coverage on Bentley Systems in a research report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $42.00 to $45.00 in a research note on Friday, May 8th. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 16th. 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 report on Monday, May 4th. Finally, Mizuho decreased their price objective on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems has an average rating of “Hold” and an average price target of $45.00.

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.