Norges Bank Invests $68.77 Million in Bentley Systems, Incorporated $BSY

Norges Bank acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,801,802 shares of the company’s stock, valued at approximately $68,766,000.

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the last quarter. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new position in shares of Bentley Systems in the 4th quarter worth approximately $34,000. National Pension Service grew its stake in shares of Bentley Systems by 63.0% in the 4th quarter. National Pension Service now owns 880 shares of the company’s stock worth $34,000 after purchasing an additional 340 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Bentley Systems by 63.7% in the 4th quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock worth $34,000 after purchasing an additional 346 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Bentley Systems in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BSY shares. Oppenheimer lowered their price objective on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Zacks Research downgraded shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Hold” and a consensus price target of $47.00.

Bentley Systems Stock Performance

Bentley Systems stock opened at $32.93 on Friday. The firm’s 50 day simple moving average is $33.48 and its 200-day simple moving average is $36.56. Bentley Systems, Incorporated has a fifty-two week low of $30.52 and a fifty-two week high of $59.25. The company has a market cap of $9.62 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last announced 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 firm had revenue of $424.18 million for 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. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 1.19 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Bentley Systems’s payout ratio is presently 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.