Entropy Technologies LP Takes $2.46 Million Position in Bentley Systems, Incorporated $BSY

Entropy Technologies LP purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 64,416 shares of the company’s stock, valued at approximately $2,458,000.

Several other hedge funds have also recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in shares of Bentley Systems during the 3rd quarter worth $150,903,000. Norges Bank bought a new position in Bentley Systems in the fourth quarter worth about $68,766,000. Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after buying an additional 1,792,591 shares in the last quarter. Swedbank AB boosted its holdings in shares of Bentley Systems by 18.5% in the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after buying an additional 1,338,706 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Bentley Systems by 115.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,352,362 shares of the company’s stock worth $51,613,000 after buying an additional 725,197 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BSY has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Oppenheimer decreased their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Rosenblatt Securities dropped their target price on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Finally, Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.00.

Bentley Systems Stock Down 0.5%

Shares of BSY stock opened at $30.53 on Tuesday. Bentley Systems, Incorporated has a fifty-two week low of $29.45 and a fifty-two week high of $59.25. The firm has a market capitalization of $8.92 billion, a PE ratio of 34.69, a P/E/G ratio of 1.99 and a beta of 1.00. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s 50-day simple moving average is $33.10 and its 200-day simple moving average is $36.13.

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

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Bentley Systems’s payout ratio is currently 31.82%.

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.