Federated Hermes Inc. Acquires 55,940 Shares of Bentley Systems, Incorporated $BSY

Federated Hermes Inc. raised its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 10.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 574,945 shares of the company’s stock after acquiring an additional 55,940 shares during the quarter. Federated Hermes Inc.’s holdings in Bentley Systems were worth $29,598,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BSY. Baillie Gifford & Co. bought a new position in shares of Bentley Systems during the third quarter valued at $28,000. Geneos Wealth Management Inc. raised its position in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after buying an additional 627 shares during the last quarter. Allworth Financial LP lifted its stake in Bentley Systems by 37.6% during the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after acquiring an additional 192 shares during the period. Assetmark Inc. lifted its stake in Bentley Systems by 682.8% during the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after acquiring an additional 635 shares during the period. Finally, Whittier Trust Co. boosted its holdings in shares of Bentley Systems by 237.4% during the 2nd quarter. Whittier Trust Co. now owns 830 shares of the company’s stock valued at $45,000 after acquiring an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $35.12 on Friday. The stock has a 50-day simple moving average of $39.69 and a two-hundred day simple moving average of $47.95. 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 52-week low of $34.49 and a 52-week high of $59.25. The firm has a market capitalization of $10.26 billion, a PE ratio of 41.81, a P/E/G ratio of 2.43 and a beta of 1.21.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. The firm 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%.The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. Analysts forecast 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. Shareholders of record on Thursday, December 4th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, December 4th. Bentley Systems’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

BSY has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. Oppenheimer decreased their target price on shares of Bentley Systems from $65.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, January 20th. Robert W. Baird set a $55.00 price target on Bentley Systems in a report on Wednesday, January 7th. BMO Capital Markets started coverage on Bentley Systems in a report on Thursday, January 22nd. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, Barclays reduced their price objective on Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

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.