Geode Capital Management LLC Purchases 216,257 Shares of Bentley Systems, Incorporated $BSY

Geode Capital Management LLC raised its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 6.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,468,512 shares of the company’s stock after acquiring an additional 216,257 shares during the period. Geode Capital Management LLC owned about 1.19% of Bentley Systems worth $132,060,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares in the last quarter. National Pension Service bought a new stake in Bentley Systems in the 3rd quarter valued at approximately $28,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in Bentley Systems in the 4th quarter valued at approximately $34,000. Global Retirement Partners LLC lifted its stake in Bentley Systems by 63.7% in the 4th quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock valued at $34,000 after acquiring an additional 346 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Bentley Systems in the 3rd quarter valued at approximately $37,000. Institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BSY. Piper Sandler raised Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Bank of America began coverage on Bentley Systems in a research report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target on the stock. Zacks Research lowered Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Oppenheimer lowered their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Rosenblatt Securities lowered their price target on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Hold” and a consensus target price of $47.00.

Bentley Systems Trading Up 1.3%

Shares of Bentley Systems stock opened at $33.06 on Friday. The firm has a 50-day moving average of $33.52 and a 200-day moving average of $36.59. The stock has a market cap of $9.66 billion, a PE ratio of 37.57, a PEG ratio of 2.11 and a beta of 1.00. Bentley Systems, Incorporated has a 52-week low of $30.52 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. Bentley Systems’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts forecast that Bentley Systems, Incorporated will post 1.19 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is 31.82%.

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.