Prudential PLC Sells 47,273 Shares of Bentley Systems, Incorporated $BSY

Prudential PLC lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 75.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,124 shares of the company’s stock after selling 47,273 shares during the period. Prudential PLC’s holdings in Bentley Systems were worth $577,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in shares of Bentley Systems in the fourth quarter worth $34,000. National Pension Service grew its holdings in shares of Bentley Systems by 63.0% in the fourth quarter. National Pension Service now owns 880 shares of the company’s stock worth $34,000 after acquiring an additional 340 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Bentley Systems by 63.7% in the fourth quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock worth $34,000 after acquiring an additional 346 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Bentley Systems in the third quarter worth $37,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $33.02 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems, Incorporated has a 1-year low of $30.52 and a 1-year high of $59.25. The company has a market capitalization of $9.65 billion, a P/E ratio of 37.52, a P/E/G ratio of 2.13 and a beta of 1.00. The firm’s 50 day simple moving average is $33.42 and its two-hundred day simple moving average is $36.46.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts expect that Bentley Systems, Incorporated will post 1.19 EPS 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. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.28 annualized dividend and a yield of 0.8%. Bentley Systems’s payout ratio is currently 31.82%.

Wall Street Analyst Weigh In

BSY has been the topic of a number of research reports. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $42.00 to $45.00 in a report on Friday, May 8th. Rosenblatt Securities dropped their price objective on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Weiss Ratings downgraded shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Barclays dropped their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, May 29th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.00.

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.