Pacer Advisors Inc. Has $11.67 Million Stock Holdings in Bentley Systems, Incorporated $BSY

Pacer Advisors Inc. cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 332,221 shares of the company’s stock after selling 21,007 shares during the quarter. Pacer Advisors Inc.’s holdings in Bentley Systems were worth $11,668,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in Bentley Systems during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. raised its stake 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Bentley Systems during the third quarter worth approximately $37,000. IFP Advisors Inc lifted its position in shares of Bentley Systems by 174.5% during the third quarter. IFP Advisors Inc now owns 763 shares of the company’s stock worth $39,000 after purchasing an additional 485 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in shares of Bentley Systems by 80.2% during the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after purchasing an additional 352 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Up 0.5%

Shares of NASDAQ BSY opened at $36.08 on Wednesday. Bentley Systems, Incorporated has a 1 year low of $28.08 and a 1 year high of $58.19. The firm’s 50-day moving average is $31.95 and its 200-day moving average is $33.98. 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 firm has a market capitalization of $10.55 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 2.31 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $0.35 earnings per share. Bentley Systems’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on BSY. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $42.00 to $45.00 in a report on Friday, May 8th. Bank of America began coverage on Bentley Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective on the stock. Mizuho decreased their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. Finally, Barclays dropped 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. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Bentley Systems has an average rating of “Hold” and a consensus target price of $45.00.

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.