AXQ Capital LP Makes New Investment in Bentley Systems, Incorporated $BSY

AXQ Capital LP acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,727 shares of the company’s stock, valued at approximately $1,096,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AGF Management Ltd. raised its stake in Bentley Systems by 64.2% in the 3rd quarter. AGF Management Ltd. now owns 180,633 shares of the company’s stock valued at $9,299,000 after acquiring an additional 70,650 shares during the period. Baillie Gifford & Co. raised its stake in Bentley Systems by 54,633.0% in the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock valued at $11,384,000 after acquiring an additional 297,750 shares during the period. Bessemer Group Inc. raised its stake in Bentley Systems by 27.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock valued at $127,986,000 after acquiring an additional 534,776 shares during the period. Envestnet Asset Management Inc. raised its stake in Bentley Systems by 5.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company’s stock valued at $49,157,000 after acquiring an additional 51,883 shares during the period. Finally, Aviso Financial Inc. bought a new stake in Bentley Systems in the 3rd quarter valued at about $930,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BSY shares. UBS Group lowered their price objective 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 cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $42.00 to $45.00 in a research note on Friday, May 8th. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Finally, Rosenblatt Securities lowered their price objective 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. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Bentley Systems has an average rating of “Hold” and an average price target of $47.00.

Bentley Systems Trading Down 3.5%

Shares of BSY opened at $34.00 on Wednesday. The business’s 50-day moving average price is $33.79 and its 200-day moving average price is $36.81. Bentley Systems, Incorporated has a twelve month low of $30.52 and a twelve month high of $59.25. The stock has a market cap of $9.94 billion, a PE ratio of 38.64, a P/E/G ratio of 2.28 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.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 2nd. Bentley Systems’s dividend payout ratio 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.