Inspire Investing LLC Takes Position in Bentley Systems, Incorporated $BSY

Inspire Investing LLC acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the third quarter, Holdings Channel.com reports. The fund acquired 38,524 shares of the company’s stock, valued at approximately $1,983,000.

Several other hedge funds also recently added to or reduced their stakes in BSY. Geneos Wealth Management Inc. raised its stake in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the last quarter. Twin Tree Management LP grew its stake in shares of Bentley Systems by 361.9% during the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after acquiring an additional 579 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Bentley Systems by 37.6% during the second quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after acquiring an additional 192 shares in the last quarter. Assetmark Inc. raised its position in shares of Bentley Systems by 682.8% in the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after purchasing an additional 635 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Bentley Systems by 237.4% in the 2nd quarter. Whittier Trust Co. now owns 830 shares of the company’s stock worth $45,000 after purchasing an additional 584 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BSY shares. Robert W. Baird cut their price target on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Piper Sandler dropped their price objective on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Barclays initiated coverage on Bentley Systems in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $56.73.

Bentley Systems Price Performance

Shares of BSY opened at $38.92 on Friday. The business’s 50-day moving average is $44.32 and its two-hundred day moving average is $50.51. The company has a market capitalization of $11.37 billion, a P/E ratio of 46.33, a P/E/G ratio of 3.05 and a beta of 1.23. 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 debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61.

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

Bentley Systems Announces Dividend

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

Bentley Systems Company Profile

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.