Vanguard Group Inc. Sells 2,161,340 Shares of Bentley Systems, Incorporated $BSY

Vanguard Group Inc. trimmed its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 11.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,446,317 shares of the company’s stock after selling 2,161,340 shares during the quarter. Vanguard Group Inc. owned about 0.06% of Bentley Systems worth $627,674,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AGF Management Ltd. increased its holdings in Bentley Systems by 64.2% in the 3rd quarter. AGF Management Ltd. now owns 180,633 shares of the company’s stock worth $9,299,000 after buying an additional 70,650 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Bentley Systems during the 3rd quarter valued at about $122,028,000. Rakuten Investment Management Inc. purchased a new position in shares of Bentley Systems during the 3rd quarter valued at about $4,305,000. Envestnet Asset Management Inc. lifted its position in shares of Bentley Systems by 5.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company’s stock valued at $49,157,000 after buying an additional 51,883 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of Bentley Systems by 54,633.0% during the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock valued at $11,384,000 after buying an additional 297,750 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $33.56 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $9.79 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01. Bentley Systems, Incorporated has a 1-year low of $30.83 and a 1-year high of $59.25. The business has a fifty day moving average price of $35.57 and a 200 day moving average price of $39.22.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The firm had revenue of $391.58 million during the quarter, compared to analysts’ expectations of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. Equities research analysts expect that Bentley Systems, Incorporated will post 1.23 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 10th. Bentley Systems’s dividend payout ratio is currently 32.56%.

Analyst Ratings Changes

BSY has been the topic of a number of research analyst reports. Piper Sandler lowered their price target on Bentley Systems from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Royal Bank Of Canada cut their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Zacks Research upgraded Bentley Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Finally, UBS Group reduced their target price on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $48.50.

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.