Blue Trust Inc. Boosts Stake in Bentley Systems, Incorporated $BSY

Blue Trust Inc. lifted its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 19.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,305 shares of the company’s stock after acquiring an additional 211 shares during the period. Blue Trust Inc.’s holdings in Bentley Systems were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares in the last quarter. Twin Tree Management LP increased its stake in shares of Bentley Systems by 361.9% in the 1st quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after purchasing an additional 579 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Bentley Systems by 1,707.1% in the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after purchasing an additional 717 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 435 shares in the last quarter. Finally, HM Payson & Co. purchased a new stake in shares of Bentley Systems in the 1st quarter worth $45,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Up 2.0%

Shares of NASDAQ:BSY opened at $51.30 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The company has a 50-day moving average price of $52.97 and a 200 day moving average price of $50.68. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 4.06 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Bentley Systems’s dividend payout ratio (DPR) is presently 35.44%.

Analyst Ratings Changes

Several research analysts recently weighed in on BSY shares. Robert W. Baird set a $64.00 target price on shares of Bentley Systems and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Barclays started coverage on shares of Bentley Systems in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 target price for the company. KeyCorp upped their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. The Goldman Sachs Group upped their target price on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.64.

About Bentley Systems

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.