Fiera Capital Corp Trims Stock Holdings in Bentley Systems, Incorporated $BSY

Fiera Capital Corp reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 15.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 968,800 shares of the company’s stock after selling 178,010 shares during the period. Fiera Capital Corp owned approximately 0.33% of Bentley Systems worth $36,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. increased its stake in Bentley Systems by 54,633.0% during the fourth quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after purchasing an additional 297,750 shares during the period. Envestnet Asset Management Inc. increased its stake in Bentley Systems by 5.7% during the third quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company’s stock worth $49,157,000 after purchasing an additional 51,883 shares during the period. Aviso Financial Inc. purchased a new stake in Bentley Systems during the third quarter worth about $930,000. Vanguard Group Inc. increased its stake in Bentley Systems by 10.7% during the third 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 during the period. Finally, Fisher Asset Management LLC increased its stake in Bentley Systems by 22.0% during the third quarter. Fisher Asset Management LLC now owns 171,805 shares of the company’s stock worth $8,845,000 after purchasing an additional 30,972 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on BSY shares. Rosenblatt Securities cut their target price on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Bank of America started coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They set a “buy” rating and a $40.00 target price on the stock. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Barclays cut their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.00.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $33.02 on Tuesday. The firm has a market capitalization of $9.65 billion, a P/E ratio of 37.52, a P/E/G ratio of 2.13 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 quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The firm’s 50 day moving average is $33.42 and its two-hundred day moving average is $36.46.

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

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be issued a $0.07 dividend. 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 presently 31.82%.

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.