Hsbc Holdings PLC Has $5.33 Million Stock Position in Bentley Systems, Incorporated $BSY

Hsbc Holdings PLC raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 104.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 139,008 shares of the company’s stock after buying an additional 71,128 shares during the quarter. Hsbc Holdings PLC’s holdings in Bentley Systems were worth $5,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB raised its holdings in shares of Bentley Systems by 18.5% during the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after acquiring an additional 1,338,706 shares during the period. Geode Capital Management LLC boosted its stake in Bentley Systems by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock worth $132,060,000 after purchasing an additional 216,257 shares during the period. Bank of New York Mellon Corp boosted its stake in Bentley Systems by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after purchasing an additional 259,780 shares during the period. Impax Asset Management Group plc increased its holdings in Bentley Systems by 12.1% during the 4th quarter. Impax Asset Management Group plc now owns 2,178,670 shares of the company’s stock worth $83,149,000 after purchasing an additional 234,998 shares in the last quarter. Finally, Norges Bank bought a new position in Bentley Systems during the 4th quarter worth about $68,766,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group dropped their price target on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Mizuho decreased their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Barclays dropped their target price 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, Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $42.00 to $45.00 in a research note on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average target price of $45.54.

Bentley Systems Stock Performance

Shares of BSY opened at $31.61 on Friday. The company has a market cap of $9.24 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The firm has a 50-day moving average of $31.83 and a 200-day moving average of $34.75. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $59.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. During the same period last year, the business posted $0.35 EPS. Bentley Systems’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is currently 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.