William Blair Investment Management LLC Reduces Stock Holdings in Bentley Systems, Incorporated $BSY

William Blair Investment Management LLC reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,615,173 shares of the company’s stock after selling 316,123 shares during the period. William Blair Investment Management LLC’s holdings in Bentley Systems were worth $99,808,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Catalyst Funds Management Pty Ltd raised its holdings in shares of Bentley Systems by 33.4% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 27,585 shares of the company’s stock valued at $1,053,000 after buying an additional 6,900 shares during the period. MQS Management LLC raised its holdings in shares of Bentley Systems by 29.9% during the 4th quarter. MQS Management LLC now owns 8,447 shares of the company’s stock valued at $322,000 after buying an additional 1,943 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Bentley Systems during the 4th quarter valued at about $231,000. Tensor Edge Capital LLC purchased a new stake in shares of Bentley Systems during the 4th quarter valued at about $3,180,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Bentley Systems by 63.7% during the 4th quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock valued at $34,000 after buying an additional 346 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSY has been the subject of a number of recent analyst reports. Mizuho lowered their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $42.00 to $45.00 in a research note on Friday, May 8th. Barclays raised their price objective on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Finally, UBS Group lowered their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.69.

Bentley Systems Price Performance

Shares of BSY opened at $33.16 on Friday. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 2.08 and a beta of 1.01. The stock has a 50 day moving average of $34.39 and a 200-day moving average of $37.49. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems, Incorporated has a 52 week low of $30.52 and a 52 week high of $59.25.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, analysts forecast that Bentley Systems, Incorporated will post 1.23 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were given a $0.07 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is presently 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.