Pictet Asset Management Holding SA Sells 1,175,249 Shares of Bentley Systems, Incorporated $BSY

Pictet Asset Management Holding SA lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 38.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,858,105 shares of the company’s stock after selling 1,175,249 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Bentley Systems were worth $70,917,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BSY. William Blair Investment Management LLC bought a new stake in shares of Bentley Systems in the 3rd quarter valued at $150,903,000. Manning & Napier Advisors LLC bought a new stake in shares of Bentley Systems in the 3rd quarter valued at $122,028,000. Vanguard Group Inc. increased its stake in shares of Bentley Systems by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after acquiring an additional 1,792,591 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Bentley Systems by 303.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 627,165 shares of the company’s stock valued at $32,286,000 after acquiring an additional 471,845 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY stock opened at $32.32 on Wednesday. The firm has a market capitalization of $9.43 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 2.20 and a beta of 1.16. The firm has a fifty day simple moving average of $35.63 and a two-hundred day simple moving average of $39.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. Bentley Systems, Incorporated has a 12 month low of $30.83 and a 12 month high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The business had revenue of $391.58 million during the quarter, compared to analyst estimates of $381.79 million. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. Bentley Systems’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Analysts forecast that Bentley Systems, Incorporated will post 1.23 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s payout ratio is 32.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BSY. Oppenheimer lowered their price objective on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Mizuho lowered their price objective on shares of Bentley Systems from $62.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Barclays lifted their price objective on shares of Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Zacks Research upgraded shares of Bentley Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Finally, UBS Group decreased their price target on shares of Bentley Systems from $60.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.50.

About Bentley Systems

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.