Entropy Technologies LP Invests $2.46 Million in Bentley Systems, Incorporated $BSY

Entropy Technologies LP bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, HoldingsChannel.com reports. The firm bought 64,416 shares of the company’s stock, valued at approximately $2,458,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Shell Asset Management Co. grew its position in Bentley Systems by 4.8% during the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock valued at $279,000 after buying an additional 246 shares during the period. Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of Bentley Systems by 0.6% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock worth $2,560,000 after acquiring an additional 275 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of Bentley Systems by 6.5% during the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock worth $251,000 after acquiring an additional 296 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Bentley Systems by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company’s stock valued at $2,532,000 after acquiring an additional 305 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Bentley Systems by 0.7% in the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 50,048 shares of the company’s stock valued at $1,910,000 after purchasing an additional 326 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Down 0.5%

NASDAQ BSY opened at $30.53 on Tuesday. The business has a fifty day moving average price of $33.10 and a 200 day moving average price of $36.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $8.92 billion, a P/E ratio of 34.69, a P/E/G ratio of 1.99 and a beta of 1.00. Bentley Systems, Incorporated has a one year low of $29.45 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Research analysts anticipate that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a $0.07 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Bentley Systems’s dividend payout ratio is presently 31.82%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BSY shares. UBS Group lowered their price target on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Barclays decreased their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. Oppenheimer dropped their price target on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Mizuho cut their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, Bank of America initiated coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.00.

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.