Bryce Point Capital LLC Acquires Shares of 13,689 Bentley Systems, Incorporated $BSY

Bryce Point Capital LLC acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,689 shares of the company’s stock, valued at approximately $739,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Bentley Systems by 207.6% during the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock valued at $165,259,000 after purchasing an additional 2,066,725 shares in the last quarter. Montanaro Asset Management Ltd lifted its holdings in Bentley Systems by 41.3% during the second quarter. Montanaro Asset Management Ltd now owns 436,900 shares of the company’s stock valued at $23,579,000 after purchasing an additional 127,661 shares in the last quarter. Tredje AP fonden lifted its holdings in Bentley Systems by 16.5% during the second quarter. Tredje AP fonden now owns 21,101 shares of the company’s stock valued at $1,139,000 after purchasing an additional 2,983 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in Bentley Systems by 6.2% during the second quarter. Geneva Capital Management LLC now owns 132,434 shares of the company’s stock valued at $7,147,000 after purchasing an additional 7,774 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Bentley Systems by 17.4% during the second quarter. Amalgamated Bank now owns 11,314 shares of the company’s stock valued at $611,000 after purchasing an additional 1,673 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, October 8th. KeyCorp increased their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Robert W. Baird set a $64.00 target price on shares of Bentley Systems and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Piper Sandler increased their target price on shares of Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus target price of $56.64.

Bentley Systems Price Performance

Bentley Systems stock opened at $50.29 on Tuesday. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The stock has a market cap of $14.69 billion, a P/E ratio of 63.66, a PEG ratio of 4.10 and a beta of 1.12. The company has a 50-day moving average price of $52.57 and a 200 day moving average price of $51.67. 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 (NASDAQ:BSY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $363.51 million. During the same period last year, the business earned $0.31 earnings per share. Bentley Systems’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Bentley Systems’s dividend payout ratio (DPR) is currently 35.44%.

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.