Claret Asset Management Corp Invests $238,000 in Bentley Systems, Incorporated $BSY

Claret Asset Management Corp purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,419 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Bentley Systems by 5.3% during 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. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Bentley Systems by 1.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock valued at $636,027,000 after purchasing an additional 160,496 shares in the last quarter. Swedbank AB boosted its stake in shares of Bentley Systems by 1.6% during the first quarter. Swedbank AB now owns 7,119,208 shares of the company’s stock valued at $280,070,000 after purchasing an additional 111,884 shares in the last quarter. Geode Capital Management LLC increased its holdings in Bentley Systems by 5.0% during the second quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock valued at $173,877,000 after buying an additional 155,078 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Bentley Systems by 207.6% in the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after buying an additional 2,066,725 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $41.85 on Tuesday. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The company has a market cap of $12.22 billion, a PE ratio of 49.82, a P/E/G ratio of 3.28 and a beta of 1.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The business has a 50-day simple moving average of $48.41 and a two-hundred day simple moving average of $51.46.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $375.55 million during the quarter, compared to analyst estimates of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. Bentley Systems’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. As a group, equities analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, December 4th. Bentley Systems’s payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group increased their target price on Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. dropped their price objective on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 target price on shares of Bentley Systems in a report on Thursday, November 6th. Oppenheimer increased 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. Finally, Robert W. Baird cut their price objective on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.73.

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.