Fifth Third Bancorp Boosts Stake in Bentley Systems, Incorporated $BSY

Fifth Third Bancorp lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 2,627.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 52,336 shares of the company’s stock after purchasing an additional 50,417 shares during the quarter. Fifth Third Bancorp’s holdings in Bentley Systems were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its position in shares of Bentley Systems by 150.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock valued at $163,703,000 after acquiring an additional 2,803,241 shares during the period. Norges Bank acquired a new stake in Bentley Systems during the 4th quarter worth about $68,766,000. Swedbank AB grew its stake in Bentley Systems by 18.5% during the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after purchasing an additional 1,338,706 shares during the last quarter. Invesco Ltd. grew its stake in Bentley Systems by 246.4% during the 4th quarter. Invesco Ltd. now owns 1,366,990 shares of the company’s stock valued at $52,171,000 after purchasing an additional 972,409 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Bentley Systems by 1,583.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 911,878 shares of the company’s stock valued at $34,802,000 after purchasing an additional 857,718 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of BSY stock opened at $29.74 on Thursday. The stock has a market cap of $8.69 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The business has a 50-day simple moving average of $31.65 and a 200-day simple moving average of $34.29. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $59.25.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.Bentley Systems’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, equities analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BSY. Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Mizuho cut their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Weiss Ratings cut shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. Finally, UBS Group dropped their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Bentley Systems currently has an average rating of “Hold” and a consensus target price of $45.54.

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.