Federated Hermes Inc. Acquires 55,940 Shares of Bentley Systems, Incorporated $BSY

Federated Hermes Inc. raised its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 10.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 574,945 shares of the company’s stock after purchasing an additional 55,940 shares during the period. Federated Hermes Inc. owned 0.20% of Bentley Systems worth $29,598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in shares of Bentley Systems during the third quarter valued at approximately $122,028,000. Bank of New York Mellon Corp boosted its holdings in Bentley Systems by 207.6% in the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock valued at $165,259,000 after acquiring an additional 2,066,725 shares in the last quarter. Norges Bank purchased a new position in Bentley Systems during the 2nd quarter valued at $56,452,000. Marshall Wace LLP raised its holdings in Bentley Systems by 915.4% in the 2nd quarter. Marshall Wace LLP now owns 553,489 shares of the company’s stock worth $29,872,000 after purchasing an additional 498,979 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Bentley Systems by 90.8% during the 3rd quarter. Pacer Advisors Inc. now owns 676,740 shares of the company’s stock valued at $34,839,000 after purchasing an additional 322,012 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 recently issued reports on BSY shares. Robert W. Baird set a $55.00 price target on shares of Bentley Systems in a research note on Wednesday, January 7th. Royal Bank Of Canada lowered their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. BMO Capital Markets began coverage on Bentley Systems in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $48.00 price target on the stock. Barclays lowered their price objective on Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, January 12th. Finally, Piper Sandler reduced their target price on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Bentley Systems Trading Up 0.1%

Bentley Systems stock opened at $35.12 on Friday. Bentley Systems, Incorporated has a 12 month low of $34.49 and a 12 month high of $59.25. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.21. The business’s fifty day simple moving average is $39.69 and its two-hundred day simple moving average is $47.95. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $375.55 million during the quarter, compared to analyst estimates of $369.57 million. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.Bentley Systems’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.28 annualized dividend and a yield of 0.8%. Bentley Systems’s payout ratio is 33.33%.

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.