Short Interest in Bentley Systems, Incorporated (NASDAQ:BSY) Expands By 24.8%

Bentley Systems, Incorporated (NASDAQ:BSY) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 17,693,778 shares, a growth of 24.8% from the January 29th total of 14,174,425 shares. Approximately 7.6% of the company’s shares are short sold. Based on an average daily trading volume, of 3,769,743 shares, the days-to-cover ratio is presently 4.7 days. Based on an average daily trading volume, of 3,769,743 shares, the days-to-cover ratio is presently 4.7 days. Approximately 7.6% of the company’s shares are short sold.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC bought a new stake in Bentley Systems during the third quarter worth about $150,903,000. Manning & Napier Advisors LLC bought a new position in Bentley Systems in the third quarter valued at approximately $122,028,000. Bank of New York Mellon Corp increased its position in shares of Bentley Systems by 207.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after purchasing an additional 2,066,725 shares during the last quarter. Norges Bank bought a new stake in shares of Bentley Systems during the 4th quarter worth approximately $68,766,000. Finally, Vanguard Group Inc. raised its stake in shares of Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after purchasing an additional 1,792,591 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.3%

NASDAQ BSY opened at $38.87 on Thursday. Bentley Systems has a 52 week low of $30.97 and a 52 week high of $59.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50 day moving average price is $36.65 and its two-hundred day moving average price is $44.37. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 2.78 and a beta of 1.18.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $391.58 million during the quarter, compared to analysts’ expectations of $381.79 million. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. As a group, analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, March 10th. Bentley Systems’s payout ratio is presently 32.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of Bentley Systems from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday. Mizuho dropped their price objective on Bentley Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. UBS Group lowered their price target on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Hold” and an average target price of $48.33.

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.