Impax Asset Management Group plc Cuts Holdings in Bentley Systems, Incorporated $BSY

Impax Asset Management Group plc reduced its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,363,969 shares of the company’s stock after selling 52,010 shares during the quarter. Impax Asset Management Group plc’s holdings in Bentley Systems were worth $126,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BSY. Police & Firemen s Retirement System of New Jersey boosted its position in Bentley Systems by 18.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 60,155 shares of the company’s stock worth $3,247,000 after purchasing an additional 9,262 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bentley Systems by 5.0% in the second quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock valued at $173,877,000 after buying an additional 155,078 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Bentley Systems by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company’s stock worth $94,000 after buying an additional 515 shares during the period. Wealth Alliance LLC lifted its position in shares of Bentley Systems by 4.4% during the 2nd quarter. Wealth Alliance LLC now owns 8,304 shares of the company’s stock valued at $448,000 after buying an additional 353 shares in the last quarter. Finally, Forsta AP Fonden acquired a new stake in Bentley Systems in the 2nd quarter valued at $1,598,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Down 1.3%

Shares of BSY opened at $44.38 on Thursday. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $51.44 and a two-hundred day simple moving average of $51.77. The company has a market capitalization of $12.96 billion, a PE ratio of 52.83, a price-to-earnings-growth ratio of 3.51 and a beta of 1.12.

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

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BSY shares. Piper Sandler decreased their price objective on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. The Goldman Sachs Group lifted their price objective on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. Robert W. Baird reduced their target price on Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Finally, UBS Group boosted their price target on Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.