Copeland Capital Management LLC Trims Stock Holdings in Bentley Systems, Incorporated $BSY

Copeland Capital Management LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 577,318 shares of the company’s stock after selling 26,209 shares during the quarter. Copeland Capital Management LLC’s holdings in Bentley Systems were worth $29,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Resona Asset Management Co. Ltd. boosted its position in shares of Bentley Systems by 66.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 78,808 shares of the company’s stock worth $4,244,000 after purchasing an additional 31,402 shares during the period. AGF Management Ltd. lifted its stake in Bentley Systems by 7.4% during the second quarter. AGF Management Ltd. now owns 109,983 shares of the company’s stock worth $5,936,000 after purchasing an additional 7,536 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Bentley Systems by 3.6% during the second quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after buying an additional 68,155 shares during the period. Pacer Advisors Inc. grew its stake in shares of Bentley Systems by 90.8% in the third quarter. Pacer Advisors Inc. now owns 676,740 shares of the company’s stock valued at $34,839,000 after buying an additional 322,012 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Bentley Systems in the 1st quarter valued at $333,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BSY. Rosenblatt Securities restated a “buy” rating and set a $58.00 target price on shares of Bentley Systems in a report on Thursday, November 6th. JPMorgan Chase & Co. lowered their price objective on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Piper Sandler reduced their target price on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Barclays initiated coverage on shares of Bentley Systems in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Stock Up 0.2%

Shares of NASDAQ:BSY opened at $39.08 on Tuesday. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The firm’s 50 day moving average price is $43.83 and its 200 day moving average price is $50.41. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 3.06 and a beta of 1.23.

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

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were paid a $0.07 dividend. The ex-dividend date was Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Bentley Systems’s dividend payout ratio (DPR) is currently 33.33%.

Bentley Systems Company 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.