Ensign Peak Advisors Inc Cuts Stock Holdings in Bentley Systems, Incorporated $BSY

Ensign Peak Advisors Inc cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 26.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,488 shares of the company’s stock after selling 22,950 shares during the period. Ensign Peak Advisors Inc’s holdings in Bentley Systems were worth $3,426,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Bentley Systems by 207.6% in the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock valued at $165,259,000 after acquiring an additional 2,066,725 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Bentley Systems by 5.3% in 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. Federated Hermes Inc. purchased a new position in shares of Bentley Systems in the 1st quarter worth about $15,960,000. Nuveen LLC acquired a new position in shares of Bentley Systems in the 1st quarter valued at about $11,901,000. Finally, Fiera Capital Corp grew its holdings in shares of Bentley Systems by 27.8% during the 2nd quarter. Fiera Capital Corp now owns 1,186,155 shares of the company’s stock worth $64,017,000 after purchasing an additional 258,186 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Robert W. Baird reduced their target price on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price target on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Piper Sandler lowered their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Oppenheimer boosted their price objective on Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.73.

Bentley Systems Price Performance

BSY opened at $41.24 on Wednesday. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 3.22 and a beta of 1.12. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $49.34 and a 200 day simple moving average of $51.65.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $369.57 million. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

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

About Bentley Systems

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.