Northwest & Ethical Investments L.P. Makes New Investment in Bentley Systems, Incorporated $BSY

Northwest & Ethical Investments L.P. acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 54,916 shares of the company’s stock, valued at approximately $2,964,000.

Several other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Bentley Systems by 207.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after acquiring an additional 2,066,725 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Bentley Systems by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares during the period. Federated Hermes Inc. purchased a new position in Bentley Systems in the 1st quarter worth about $15,960,000. Nuveen LLC purchased a new position in Bentley Systems in the 1st quarter worth about $11,901,000. Finally, Fiera Capital Corp raised its holdings in Bentley Systems by 27.8% during the 2nd quarter. Fiera Capital Corp now owns 1,186,155 shares of the company’s stock worth $64,017,000 after buying an additional 258,186 shares during the period. 44.16% of the stock is owned by institutional investors.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $41.12 on Thursday. The business has a 50 day moving average price of $49.10 and a 200 day moving average price of $51.57. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The company 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. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $375.55 million for the quarter, compared to the consensus estimate of $369.57 million. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. Research analysts predict 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 will be paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Bentley Systems’s dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

BSY has been the subject of several recent analyst reports. Robert W. Baird decreased their target price on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Oppenheimer upped their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. The Goldman Sachs Group raised their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.73.

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.