Bentley Systems, Incorporated $BSY Position Reduced by Sei Investments Co.

Sei Investments Co. reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 41.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,124 shares of the company’s stock after selling 144,471 shares during the period. Sei Investments Co. owned about 0.07% of Bentley Systems worth $7,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BSY. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after purchasing an additional 2,803,241 shares during the last quarter. Norges Bank bought a new stake in Bentley Systems in the fourth quarter valued at about $68,766,000. Swedbank AB raised its stake in Bentley Systems by 18.5% during the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after buying an additional 1,338,706 shares in the last quarter. Madison Asset Management LLC acquired a new stake in Bentley Systems during the first quarter valued at approximately $34,466,000. Finally, Invesco Ltd. lifted its holdings in Bentley Systems by 246.4% during the 4th quarter. Invesco Ltd. now owns 1,366,990 shares of the company’s stock worth $52,171,000 after buying an additional 972,409 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $35.44 on Monday. The firm has a market capitalization of $10.36 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.28 and a beta of 1.00. The business has a 50 day simple moving average of $31.83 and a 200 day simple moving average of $34.03. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $58.64.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. Bentley Systems’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. Equities research analysts predict that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were paid a $0.07 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is presently 31.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 16th. Bank of America initiated coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $45.00 in a report on Friday, May 8th. UBS Group reduced their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Finally, Mizuho decreased 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. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.00.

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.