Arrowstreet Capital Limited Partnership Buys 3,429,087 Shares of Bentley Systems, Incorporated $BSY

Arrowstreet Capital Limited Partnership lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 253.6% during the first quarter, Holdings Channel reports. The fund owned 4,781,449 shares of the company’s stock after buying an additional 3,429,087 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Bentley Systems were worth $167,924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lido Advisors LLC acquired a new stake in Bentley Systems in the first quarter valued at approximately $403,000. Alesco Advisors LLC An ESL Co acquired a new stake in Bentley Systems in the 1st quarter valued at $472,000. First Trust Advisors LP increased its stake in Bentley Systems by 15.7% during the 1st quarter. First Trust Advisors LP now owns 198,353 shares of the company’s stock valued at $6,966,000 after purchasing an additional 26,965 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Bentley Systems by 154.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,314 shares of the company’s stock valued at $292,000 after purchasing an additional 5,052 shares in the last quarter. Finally, Madison Asset Management LLC acquired a new position in Bentley Systems during the first quarter worth $34,466,000. 44.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BSY. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. Barclays decreased their price target on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, May 29th. Mizuho lowered their price target on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Finally, BMO Capital Markets set a $41.00 target price on shares of Bentley Systems in a research note on Friday. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.00.

Bentley Systems Trading Up 4.2%

Shares of BSY opened at $31.40 on Friday. Bentley Systems, Incorporated has a twelve month low of $28.08 and a twelve month high of $59.25. The stock has a market cap of $9.18 billion, a PE ratio of 35.68, a P/E/G ratio of 1.94 and a beta of 1.00. 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 business’s 50-day moving average price is $31.61 and its 200-day moving average price is $34.22.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $424.18 million during 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%. Bentley Systems’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. On average, equities analysts forecast that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

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