Hsbc Holdings PLC Sells 115,130 Shares of Bentley Systems, Incorporated $BSY

Hsbc Holdings PLC trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 82.8% in the first quarter, Holdings Channel.com reports. The firm owned 23,878 shares of the company’s stock after selling 115,130 shares during the quarter. Hsbc Holdings PLC’s holdings in Bentley Systems were worth $839,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Swedbank AB lifted its stake in Bentley Systems by 4.8% in the first quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock valued at $316,080,000 after buying an additional 410,799 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after acquiring an additional 2,803,241 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bentley Systems by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock worth $132,060,000 after acquiring an additional 216,257 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bentley Systems by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after acquiring an additional 259,780 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in shares of Bentley Systems by 12.1% during the fourth quarter. Impax Asset Management Group plc now owns 2,178,670 shares of the company’s stock worth $83,149,000 after acquiring an additional 234,998 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

Shares of BSY opened at $36.96 on Thursday. Bentley Systems, Incorporated has a 12 month low of $28.08 and a 12 month high of $58.97. The firm has a fifty day simple moving average of $31.74 and a 200 day simple moving average of $34.10. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 2.30 and a beta of 1.00. 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 (NASDAQ:BSY) last released its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $419.80 million. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts forecast that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a $0.07 dividend. The ex-dividend date was Tuesday, June 2nd. 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%.

Analysts Set New Price Targets

Several research firms recently commented on BSY. Barclays cut 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 research report on Friday, May 29th. BNP Paribas Exane started coverage on Bentley Systems in a research note on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price target on the stock. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $42.00 to $45.00 in a report on Friday, May 8th. UBS Group reduced their price objective 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, Bank of America assumed coverage on Bentley Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective for the company. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Bentley Systems currently has a consensus rating of “Hold” and a consensus price target of $45.00.

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.