Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 131,881 Shares of Bentley Systems, Incorporated $BSY

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 99.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,125 shares of the company’s stock after selling 131,881 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bentley Systems were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BSY. Los Angeles Capital Management LLC bought a new stake in Bentley Systems during the 4th quarter valued at $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bentley Systems in the third quarter valued at $37,000. IFP Advisors Inc grew its position in shares of Bentley Systems by 174.5% in the third quarter. IFP Advisors Inc now owns 763 shares of the company’s stock valued at $39,000 after purchasing an additional 485 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its stake in shares of Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after purchasing an additional 352 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Trading Up 3.1%

BSY stock opened at $33.62 on Tuesday. The company has a market capitalization of $9.82 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.07 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. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $59.25. The company’s 50 day moving average price is $31.88 and its two-hundred day moving average price is $34.92.

Bentley Systems (NASDAQ:BSY) last released its 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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. As a group, analysts predict that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

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

Analysts Set New Price Targets

BSY has been the subject of several analyst reports. Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Bank of America assumed coverage on shares of Bentley Systems in a research report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Barclays reduced their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. Finally, UBS Group reduced their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Nine 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.54.

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.