Fisher Asset Management LLC Has $7.60 Million Stock Holdings in Bentley Systems, Incorporated $BSY

Fisher Asset Management LLC decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,833 shares of the company’s stock after selling 19,666 shares during the period. Fisher Asset Management LLC’s holdings in Bentley Systems were worth $7,601,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted 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 worth $26,000 after buying an additional 627 shares during the period. Allworth Financial LP raised its stake in Bentley Systems by 37.6% during the second quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after acquiring an additional 192 shares in the last quarter. Assetmark Inc. raised its stake in Bentley Systems by 682.8% during the second quarter. Assetmark Inc. now owns 728 shares of the company’s stock worth $39,000 after acquiring an additional 635 shares in the last quarter. Twin Tree Management LP lifted its holdings in shares of Bentley Systems by 361.9% during the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock valued at $29,000 after acquiring an additional 579 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Bentley Systems by 237.4% in the 2nd quarter. Whittier Trust Co. now owns 830 shares of the company’s stock valued at $45,000 after purchasing an additional 584 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BSY has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price target on shares of Bentley Systems in a report on Thursday, November 6th. UBS Group lifted their target price on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Piper Sandler reduced their target price on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Robert W. Baird dropped their price target on Bentley Systems from $64.00 to $62.00 and set an “outperform” 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 equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Stock Performance

BSY stock opened at $42.47 on Friday. The company has a 50 day moving average price of $47.83 and a 200 day moving average price of $51.30. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market capitalization of $12.40 billion, a PE ratio of 50.56, a price-to-earnings-growth ratio of 3.33 and a beta of 1.23.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $375.55 million during the quarter, compared to analysts’ expectations of $369.57 million. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. Analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The company 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. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 4th. Bentley Systems’s payout ratio is currently 33.33%.

Bentley Systems 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.