Peregrine Capital Management LLC Takes $644,000 Position in Bentley Systems, Incorporated $BSY

Peregrine Capital Management LLC acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,515 shares of the company’s stock, valued at approximately $644,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BSY. Geneos Wealth Management Inc. increased its position in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after buying an additional 627 shares in the last quarter. Allworth Financial LP increased its holdings in Bentley Systems by 37.6% in the 2nd 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 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock worth $39,000 after acquiring an additional 635 shares during the period. Whittier Trust Co. raised its stake in Bentley Systems by 237.4% during the 2nd quarter. Whittier Trust Co. now owns 830 shares of the company’s stock worth $45,000 after acquiring an additional 584 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new position in Bentley Systems during the second quarter valued at approximately $51,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Up 0.6%

BSY opened at $40.13 on Friday. 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. The firm has a 50-day simple moving average of $41.58 and a two-hundred day simple moving average of $49.66. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $375.55 million for 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 was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. Analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, December 4th. Bentley Systems’s dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

Several brokerages have recently commented on BSY. Rosenblatt Securities restated a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Barclays began coverage on Bentley Systems in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Robert W. Baird set a $55.00 price target on Bentley Systems in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.