Bank of New York Mellon Corp Grows Stock Position in Bentley Systems, Incorporated $BSY

Bank of New York Mellon Corp lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 8.9% in the fourth quarter, HoldingsChannel reports. The fund owned 3,185,756 shares of the company’s stock after acquiring an additional 259,780 shares during the period. Bank of New York Mellon Corp’s holdings in Bentley Systems were worth $121,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BSY. Geneos Wealth Management Inc. boosted its stake in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the period. Invesco Ltd. boosted its stake in Bentley Systems by 2.6% in the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after purchasing an additional 9,557 shares during the period. First Trust Advisors LP boosted its stake in Bentley Systems by 97.5% in the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock worth $8,670,000 after purchasing an additional 79,286 shares during the period. Brown Advisory Inc. bought a new position in Bentley Systems in the 2nd quarter worth approximately $212,000. Finally, Cresset Asset Management LLC bought a new position in Bentley Systems in the 2nd quarter worth approximately $248,000. 44.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on BSY. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Zacks Research cut 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 on the stock in a report on Friday, May 8th. Oppenheimer decreased their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Finally, Piper Sandler raised Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $42.00 to $45.00 in a report on Friday, May 8th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Bentley Systems Trading Down 0.4%

BSY stock opened at $32.93 on Friday. Bentley Systems, Incorporated has a 12 month low of $30.52 and a 12 month 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. The firm’s 50-day moving average is $33.48 and its 200 day moving average is $36.56. The company has a market capitalization of $9.62 billion, a PE ratio of 37.42, a P/E/G ratio of 2.13 and a beta of 1.00.

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

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 2nd. 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.