Thornburg Investment Management Inc. Has $6.62 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Thornburg Investment Management Inc. reduced its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,655 shares of the company’s stock after selling 2,123 shares during the period. Thornburg Investment Management Inc.’s holdings in Bentley Systems were worth $6,615,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Swedbank AB lifted its stake in Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after acquiring an additional 1,873,029 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 0.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after purchasing an additional 24,019 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after purchasing an additional 736,369 shares during the last quarter. AXA S.A. grew its position in Bentley Systems by 7.6% in the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock valued at $74,867,000 after purchasing an additional 112,824 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Bentley Systems by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock valued at $67,204,000 after buying an additional 228,502 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Down 0.5%

BSY opened at $47.97 on Friday. The stock’s fifty day simple moving average is $42.76 and its 200 day simple moving average is $45.52. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $57.19. The stock has a market cap of $14.00 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s payout ratio is currently 35.44%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now owns 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 20.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BSY shares. KeyCorp increased their price objective on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Oppenheimer increased their price target on Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Rosenblatt Securities decreased their price target on Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Robert W. Baird dropped their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, UBS Group raised their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.