KLP Kapitalforvaltning AS Has $2.75 Million Holdings in Bentley Systems, Incorporated $BSY

KLP Kapitalforvaltning AS trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 19.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,500 shares of the company’s stock after selling 12,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Bentley Systems were worth $2,754,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in 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 purchasing an additional 627 shares in the last quarter. Allworth Financial LP increased its position in shares of 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. lifted its position in Bentley Systems by 682.8% in the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after acquiring an additional 635 shares in the last quarter. Whittier Trust Co. boosted its stake in Bentley Systems by 237.4% during 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 during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in Bentley Systems during the 2nd quarter valued at about $51,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

NASDAQ BSY opened at $40.13 on Friday. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The company has a 50-day simple moving average of $41.58 and a 200 day simple moving average of $49.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market capitalization of $11.72 billion, a PE ratio of 47.77, a price-to-earnings-growth ratio of 2.75 and a beta of 1.21.

Bentley Systems (NASDAQ:BSY) last released its earnings results 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 firm had revenue of $375.55 million for the quarter, compared to analysts’ expectations of $369.57 million. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. On average, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were 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 was Thursday, December 4th. Bentley Systems’s dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BSY shares. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Royal Bank Of Canada cut their price objective on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Barclays started coverage on shares of Bentley Systems in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 target price for the company. Piper Sandler cut their price target 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, JPMorgan Chase & Co. decreased 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. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.45.

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.