AXQ Capital LP Takes Position in Bentley Systems, Incorporated $BSY

AXQ Capital LP acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 28,727 shares of the company’s stock, valued at approximately $1,096,000.

A number of other institutional investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC bought a new position in shares of Bentley Systems during the third quarter valued at approximately $150,903,000. Norges Bank bought a new position in shares of Bentley Systems during the fourth quarter valued at approximately $68,766,000. Vanguard Group Inc. raised its holdings in shares of Bentley Systems by 10.7% during the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after acquiring an additional 1,792,591 shares in the last quarter. Swedbank AB raised its holdings in shares of Bentley Systems by 18.5% during the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after acquiring an additional 1,338,706 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Bentley Systems by 27.4% during the third quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock valued at $127,986,000 after acquiring an additional 534,776 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Mizuho decreased their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Piper Sandler upgraded 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. UBS Group reduced their price target on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Oppenheimer reduced their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Finally, Barclays reduced their price target 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. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.00.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $34.00 on Wednesday. Bentley Systems, Incorporated has a 1-year low of $30.52 and a 1-year high of $59.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The business has a fifty day moving average price of $33.79 and a 200-day moving average price of $36.81. The company has a market capitalization of $9.94 billion, a PE ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. During the same period last year, the company earned $0.35 EPS. Bentley Systems’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 2nd. Bentley Systems’s dividend payout ratio (DPR) 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.