Kornitzer Capital Management Inc. KS Purchases New Shares in Bentley Systems, Incorporated $BSY

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 58,000 shares of the company’s stock, valued at approximately $2,037,000.

Several other institutional investors have also added to or reduced their stakes in BSY. Swedbank AB boosted its position in Bentley Systems by 4.8% during the 1st quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock valued at $316,080,000 after acquiring an additional 410,799 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Bentley Systems by 150.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock valued at $163,703,000 after buying an additional 2,803,241 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bentley Systems by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock valued at $132,060,000 after buying an additional 216,257 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Bentley Systems by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after buying an additional 259,780 shares during the period. Finally, Impax Asset Management Group plc grew its position in shares of Bentley Systems by 12.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,178,670 shares of the company’s stock worth $83,149,000 after buying an additional 234,998 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BSY has been the subject of a number of recent research reports. Mizuho lowered their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. UBS Group cut their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. BNP Paribas Exane initiated coverage on Bentley Systems in a research report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Bank of America started coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.54.

Bentley Systems Price Performance

NASDAQ BSY opened at $31.67 on Monday. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $59.25. The stock has a 50-day moving average of $31.80 and a 200 day moving average of $34.69. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.04 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) 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 analysts’ expectations of $419.80 million. During the same quarter in the prior year, the business earned $0.35 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors 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 yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is currently 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.