Swedbank AB Purchases 160,594 Shares of Bentley Systems, Incorporated $BSY

Swedbank AB boosted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,250,495 shares of the company’s stock after purchasing an additional 160,594 shares during the quarter. Swedbank AB’s holdings in Bentley Systems were worth $373,255,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Bentley Systems by 5.0% in the second quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock worth $173,877,000 after acquiring an additional 155,078 shares during the period. Bank of New York Mellon Corp lifted its position 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 during the last quarter. Bessemer Group Inc. boosted its stake in Bentley Systems by 3.6% during the second quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after buying an additional 68,155 shares during the period. Fiera Capital Corp increased its position in Bentley Systems by 27.8% during the second quarter. Fiera Capital Corp now owns 1,186,155 shares of the company’s stock valued at $64,017,000 after acquiring an additional 258,186 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Bentley Systems in the second quarter valued at $56,452,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $39.16 on Wednesday. The firm’s 50 day simple moving average is $44.79 and its 200-day simple moving average is $50.67. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25. The firm has a market cap of $11.44 billion, a PE ratio of 46.62, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23.

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

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Bentley Systems’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BSY shares. Barclays assumed coverage on shares of Bentley Systems in a research note on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 price target for the company. Piper Sandler decreased their price objective 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Bentley Systems in a research note on Thursday, November 6th. Robert W. Baird reduced their price target on Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $56.73.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.