Wolverine Asset Management LLC Makes New Investment in Bentley Systems, Incorporated $BSY

Wolverine Asset Management LLC acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,845 shares of the company’s stock, valued at approximately $1,176,000.

Several other large investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in Bentley Systems during the 3rd quarter worth approximately $122,028,000. Bank of New York Mellon Corp increased its holdings in shares of Bentley Systems by 207.6% during the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock valued at $165,259,000 after acquiring an additional 2,066,725 shares in the last quarter. Norges Bank acquired a new position in shares of Bentley Systems during the second quarter worth approximately $56,452,000. Marshall Wace LLP lifted its holdings in shares of Bentley Systems by 915.4% in the 2nd quarter. Marshall Wace LLP now owns 553,489 shares of the company’s stock worth $29,872,000 after purchasing an additional 498,979 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Bentley Systems by 90.8% in the 3rd quarter. Pacer Advisors Inc. now owns 676,740 shares of the company’s stock valued at $34,839,000 after purchasing an additional 322,012 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BSY has been the topic of several research reports. Piper Sandler lowered their price objective on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Barclays decreased their target price on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, January 12th. JPMorgan Chase & Co. dropped their price target on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Royal Bank Of Canada decreased their price objective on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price objective on shares of Bentley Systems in a research note on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.55.

Bentley Systems Trading Up 0.2%

Shares of BSY stock opened at $39.14 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 2.69 and a beta of 1.21. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The company has a 50-day simple moving average of $40.70 and a two-hundred day simple moving average of $49.19.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $375.55 million for the quarter, compared to analysts’ expectations of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. Research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, December 4th. Bentley Systems’s dividend payout ratio is 33.33%.

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.