Bank of New York Mellon Corp Reduces Stake in Bentley Systems, Incorporated $BSY

Bank of New York Mellon Corp cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,925,976 shares of the company’s stock after selling 136,081 shares during the quarter. Bank of New York Mellon Corp owned about 1.00% of Bentley Systems worth $150,629,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Swedbank AB grew its holdings in shares of Bentley Systems by 2.3% in the third quarter. Swedbank AB now owns 7,250,495 shares of the company’s stock valued at $373,255,000 after purchasing an additional 160,594 shares during the period. Geode Capital Management LLC boosted its holdings in Bentley Systems by 5.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock valued at $173,877,000 after purchasing an additional 155,078 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Bentley Systems in the 3rd quarter valued at approximately $122,028,000. Bessemer Group Inc. grew its stake in shares of Bentley Systems by 3.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock valued at $105,314,000 after buying an additional 68,155 shares during the period. Finally, Fiera Capital Corp increased its holdings in shares of Bentley Systems by 27.8% during the 2nd quarter. Fiera Capital Corp now owns 1,186,155 shares of the company’s stock worth $64,017,000 after buying an additional 258,186 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays decreased their price objective on Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Monday, January 12th. Oppenheimer reduced their target price on Bentley Systems from $65.00 to $53.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 20th. Robert W. Baird set a $55.00 price target on Bentley Systems in a report on Wednesday, January 7th. Royal Bank Of Canada cut their price objective on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Bentley Systems Trading Up 0.1%

Shares of NASDAQ BSY opened at $35.12 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $10.26 billion, a PE ratio of 41.81, a PEG ratio of 2.43 and a beta of 1.21. Bentley Systems, Incorporated has a twelve month low of $34.49 and a twelve month high of $59.25. The stock has a fifty day simple moving average of $39.69 and a 200-day simple moving average of $47.89.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $375.55 million for the quarter, compared to analyst estimates of $369.57 million. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.Bentley Systems’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is presently 33.33%.

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.