Bentley Systems, Incorporated $BSY Stock Holdings Lowered by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co cut its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 83.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,500 shares of the company’s stock after selling 28,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Bentley Systems were worth $210,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho cut their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Barclays reduced their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group decreased their target price on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Weiss Ratings lowered Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Nine investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.00.

Bentley Systems Stock Up 1.4%

BSY stock opened at $32.64 on Friday. The company has a 50 day moving average of $33.85 and a two-hundred day moving average of $36.94. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.09 and a beta of 1.01. Bentley Systems, Incorporated has a 12-month low of $30.52 and a 12-month high of $59.25. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91.

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

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

Bentley Systems Company 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.