Korea Investment CORP Lowers Stake in Bentley Systems, Incorporated $BSY

Korea Investment CORP cut its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.5% in the second quarter, HoldingsChannel.com reports. The firm owned 70,079 shares of the company’s stock after selling 4,102 shares during the quarter. Korea Investment CORP’s holdings in Bentley Systems were worth $3,782,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blair William & Co. IL increased its stake in Bentley Systems by 5.9% in the 1st quarter. Blair William & Co. IL now owns 18,129 shares of the company’s stock worth $713,000 after buying an additional 1,005 shares in the last quarter. ING Groep NV purchased a new position in shares of Bentley Systems in the first quarter valued at about $4,233,000. Vanguard Group Inc. boosted its stake in shares of Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after acquiring an additional 898,115 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in shares of Bentley Systems during the first quarter worth about $291,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Bentley Systems by 25.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132,778 shares of the company’s stock worth $5,223,000 after purchasing an additional 26,600 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BSY shares. The Goldman Sachs Group boosted their price target on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. Oppenheimer lifted their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Piper Sandler cut their target price on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, UBS Group lifted their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. 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 stock. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus price target of $56.73.

Bentley Systems Stock Down 0.3%

NASDAQ BSY opened at $41.85 on Tuesday. The stock has a 50 day moving average price of $48.41 and a 200-day moving average price of $51.46. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25. 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 company has a market capitalization of $12.22 billion, a P/E ratio of 49.82, a P/E/G ratio of 3.28 and a beta of 1.23.

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

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors 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 dividend yield of 0.7%. Bentley Systems’s dividend payout ratio (DPR) is presently 33.33%.

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.