KLP Kapitalforvaltning AS Decreases Stake in Bentley Systems, Incorporated $BSY

KLP Kapitalforvaltning AS cut its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,500 shares of the company’s stock after selling 12,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Bentley Systems were worth $2,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the period. Allworth Financial LP boosted its holdings in Bentley Systems by 37.6% in the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after buying an additional 192 shares during the period. Assetmark Inc. grew its stake in Bentley Systems by 682.8% in the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after buying an additional 635 shares in the last quarter. Whittier Trust Co. raised its holdings in Bentley Systems by 237.4% during the 2nd quarter. Whittier Trust Co. now owns 830 shares of the company’s stock valued at $45,000 after acquiring an additional 584 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Bentley Systems during the second quarter worth $51,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Up 0.6%

BSY stock opened at $40.13 on Friday. The company’s 50 day moving average is $41.58 and its 200 day moving average is $49.66. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 47.77, a price-to-earnings-growth ratio of 2.75 and a beta of 1.21. 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, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25.

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

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, December 4th were given a $0.07 dividend. The ex-dividend date was Thursday, December 4th. This represents a $0.28 annualized dividend and a yield of 0.7%. Bentley Systems’s payout ratio is 33.33%.

Analyst Ratings Changes

BSY has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Robert W. Baird set a $55.00 price target on shares of Bentley Systems in a report on Wednesday. Barclays initiated coverage on shares of Bentley Systems in a research note on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 price objective for the company. Finally, Piper Sandler lowered 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 note on Thursday, November 6th. Seven 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, Bentley Systems has an average rating of “Moderate Buy” and an average price target of $55.45.

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.