Cooper Investors PTY Ltd. Lowers Position in Bentley Systems, Incorporated $BSY

Cooper Investors PTY Ltd. trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 88.6% during the fourth quarter, HoldingsChannel reports. The fund owned 36,918 shares of the company’s stock after selling 285,990 shares during the quarter. Cooper Investors PTY Ltd.’s holdings in Bentley Systems were worth $1,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BSY. Vanguard Group Inc. lifted its position in Bentley Systems by 10.7% in the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after purchasing an additional 1,792,591 shares during the period. Swedbank AB increased its position in Bentley Systems by 2.3% during the 3rd quarter. Swedbank AB now owns 7,250,495 shares of the company’s stock worth $373,255,000 after purchasing an additional 160,594 shares during the period. William Blair Investment Management LLC acquired a new position in Bentley Systems during the 3rd quarter worth approximately $150,903,000. Bessemer Group Inc. raised its stake in shares of Bentley Systems by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock worth $127,986,000 after buying an additional 534,776 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Bentley Systems in the 3rd quarter valued at approximately $122,028,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BSY. Barclays lifted their price target on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Robert W. Baird set a $55.00 target price on Bentley Systems in a report on Wednesday, January 7th. Mizuho decreased their target price on shares of Bentley Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Oppenheimer lowered their price target on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, Piper Sandler cut their price target on shares of Bentley Systems from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.50.

Bentley Systems Stock Performance

Shares of BSY opened at $34.76 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. The stock has a market cap of $10.13 billion, a P/E ratio of 40.42, a PEG ratio of 2.37 and a beta of 1.18. The company has a 50-day moving average of $36.24 and a two-hundred day moving average of $42.36. Bentley Systems, Incorporated has a 12-month low of $30.97 and a 12-month high of $59.25.

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

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s dividend payout ratio is 32.56%.

About Bentley Systems

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.