Bentley Systems, Incorporated $BSY Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 41.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 204,124 shares of the company’s stock after selling 144,471 shares during the quarter. Sei Investments Co.’s holdings in Bentley Systems were worth $7,169,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BSY. Pictet Asset Management Holding SA raised its stake 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 valued at $163,703,000 after purchasing an additional 2,803,241 shares in the last quarter. Norges Bank acquired a new stake in Bentley Systems in the fourth quarter worth about $68,766,000. Swedbank AB grew its position in Bentley Systems by 18.5% in the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after buying an additional 1,338,706 shares in the last quarter. Madison Asset Management LLC bought a new position in Bentley Systems in the 1st quarter valued at about $34,466,000. Finally, Invesco Ltd. increased its stake in Bentley Systems by 246.4% during the 4th quarter. Invesco Ltd. now owns 1,366,990 shares of the company’s stock valued at $52,171,000 after buying an additional 972,409 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

Shares of BSY opened at $35.44 on Monday. The business’s 50-day moving average price is $31.83 and its 200 day moving average price is $34.03. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $10.36 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.28 and a beta of 1.00. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $58.64.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS 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 company had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. During the same period in the prior year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts expect that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems’s payout ratio is currently 31.82%.

Wall Street Analysts Forecast Growth

BSY has been the subject of several recent analyst reports. Mizuho decreased their price objective on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. BNP Paribas Exane began coverage on Bentley Systems in a report on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price on the stock. Barclays cut their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. UBS Group decreased their price target on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Finally, Bank of America initiated coverage on Bentley Systems in a research report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.00.

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.