Pacer Advisors Inc. Lowers Position in Bentley Systems, Incorporated $BSY

Pacer Advisors Inc. trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 47.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,228 shares of the company’s stock after selling 323,512 shares during the period. Pacer Advisors Inc. owned about 0.12% of Bentley Systems worth $13,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Bentley Systems in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its holdings in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the period. Royal London Asset Management Ltd. purchased a new position in Bentley Systems during the fourth quarter valued at approximately $32,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new position in Bentley Systems in the fourth quarter worth approximately $34,000. Finally, National Pension Service raised its stake in Bentley Systems by 63.0% in the fourth quarter. National Pension Service now owns 880 shares of the company’s stock worth $34,000 after buying an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on BSY shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Zacks Research lowered Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. UBS Group decreased their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Barclays dropped their price objective on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. Finally, Rosenblatt Securities cut 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. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $29.38 on Friday. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.90 and a beta of 1.00. Bentley Systems, Incorporated has a 52 week low of $28.42 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 has a 50 day moving average of $32.68 and a 200 day moving average of $35.84.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business 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 business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.19 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.0%. Bentley Systems’s dividend payout ratio (DPR) is presently 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.