Northwest & Ethical Investments L.P. Purchases New Holdings in Bentley Systems, Incorporated $BSY

Northwest & Ethical Investments L.P. acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 54,916 shares of the company’s stock, valued at approximately $2,964,000.

Other institutional investors also recently modified their holdings of the company. Elo Mutual Pension Insurance Co increased its position in shares of Bentley Systems by 40.1% during the second quarter. Elo Mutual Pension Insurance Co now owns 16,690 shares of the company’s stock valued at $901,000 after purchasing an additional 4,775 shares during the period. Prudential Financial Inc. boosted its stake in Bentley Systems by 166.5% during the second quarter. Prudential Financial Inc. now owns 14,180 shares of the company’s stock worth $765,000 after buying an additional 8,860 shares in the last quarter. Rhumbline Advisers boosted its stake in Bentley Systems by 14.7% during the second quarter. Rhumbline Advisers now owns 217,926 shares of the company’s stock worth $11,761,000 after buying an additional 27,875 shares in the last quarter. Legal & General Group Plc increased its holdings in Bentley Systems by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 763,199 shares of the company’s stock valued at $41,190,000 after buying an additional 38,485 shares during the period. Finally, DNB Asset Management AS raised its stake in shares of Bentley Systems by 14.9% in the 2nd quarter. DNB Asset Management AS now owns 31,928 shares of the company’s stock valued at $1,723,000 after buying an additional 4,138 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Piper Sandler cut their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a report on Thursday, November 6th. Barclays initiated coverage on Bentley Systems in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 target price for the company. Finally, Robert W. Baird decreased their price target on Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Stock Performance

NASDAQ BSY opened at $41.12 on Thursday. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The company has a 50 day moving average of $49.10 and a 200-day moving average of $51.57. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 3.23 and a beta of 1.12.

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

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th will be paid a $0.07 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Bentley Systems’s dividend payout ratio (DPR) is 33.33%.

Bentley Systems Company 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.