KBC Group NV Has $2.87 Million Position in Bentley Systems, Incorporated $BSY

KBC Group NV lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 63.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 81,696 shares of the company’s stock after selling 140,165 shares during the period. KBC Group NV’s holdings in Bentley Systems were worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. SEB Asset Management AB acquired a new stake in shares of Bentley Systems during the 1st quarter valued at about $22,581,000. Aurora Investment Counsel acquired a new position in Bentley Systems in the first quarter worth about $1,763,000. Future Fund LLC raised its position in Bentley Systems by 27.2% in the first quarter. Future Fund LLC now owns 47,599 shares of the company’s stock worth $1,672,000 after purchasing an additional 10,175 shares in the last quarter. Copeland Capital Management LLC raised its position in Bentley Systems by 36.9% in the first quarter. Copeland Capital Management LLC now owns 687,682 shares of the company’s stock worth $24,151,000 after purchasing an additional 185,480 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Bentley Systems by 603.7% during the first quarter. Assetmark Inc. now owns 5,770 shares of the company’s stock worth $203,000 after purchasing an additional 4,950 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BSY shares. Piper Sandler raised Bentley Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $42.00 to $45.00 in a report on Friday, May 8th. 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 report on Friday, May 29th. UBS Group cut their target price on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Weiss Ratings lowered Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets set a $41.00 price target on Bentley Systems in a research report on Friday. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Hold” and an average price target of $45.00.

Bentley Systems Trading Up 4.2%

Shares of BSY stock opened at $31.40 on Friday. The company has a market capitalization of $9.18 billion, a P/E ratio of 35.68, a P/E/G ratio of 1.94 and a beta of 1.00. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $59.25. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $31.61 and a 200 day moving average price of $34.22.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. Research analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 31.82%.

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.