Louisiana State Employees Retirement System Takes Position in Bentley Systems, Incorporated $BSY

Louisiana State Employees Retirement System bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 43,200 shares of the company’s stock, valued at approximately $1,517,000.

A number of other large investors also recently modified their holdings of BSY. Geneos Wealth Management Inc. raised its holdings in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after buying an additional 627 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Bentley Systems by 2.6% during the second quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock valued at $20,242,000 after buying an additional 9,557 shares during the last quarter. First Trust Advisors LP increased its position in shares of Bentley Systems by 97.5% during the second quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock worth $8,670,000 after acquiring an additional 79,286 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Bentley Systems during the second quarter worth about $212,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Bentley Systems in the 2nd quarter worth about $248,000. 44.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BSY shares. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $42.00 to $45.00 in a research report on Friday, May 8th. UBS Group decreased their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Bank of America started coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. BNP Paribas Exane began coverage on Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Barclays cut 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. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Bentley Systems Stock Up 3.1%

Bentley Systems stock opened at $32.26 on Friday. Bentley Systems, Incorporated has a fifty-two week low of $28.08 and a fifty-two week high of $59.25. The stock has a market cap of $9.43 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The firm’s 50-day simple moving average is $31.94 and its 200 day simple moving average is $35.03. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data 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. The business had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. Research analysts predict that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

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