William Blair Investment Management LLC Cuts Stock Position in Bentley Systems, Incorporated $BSY

William Blair Investment Management LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,615,173 shares of the company’s stock after selling 316,123 shares during the quarter. William Blair Investment Management LLC owned about 0.90% of Bentley Systems worth $99,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BSY. Geneos Wealth Management Inc. grew its holdings in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Baillie Gifford & Co. acquired a new position in Bentley Systems during the third quarter worth $28,000. National Pension Service acquired a new position in Bentley Systems during the third quarter worth $28,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new position in Bentley Systems during the fourth quarter worth $34,000. Finally, Global Retirement Partners LLC grew its holdings in Bentley Systems by 63.7% during the fourth quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock worth $34,000 after acquiring an additional 346 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler raised Bentley Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $42.00 to $45.00 in a report on Friday, May 8th. Barclays upped their target price on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, March 6th. UBS Group reduced their target price on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.69.

Bentley Systems Stock Performance

NASDAQ BSY opened at $33.16 on Friday. The firm has a market capitalization of $9.69 billion, a P/E ratio of 37.68, a P/E/G ratio of 2.08 and a beta of 1.01. Bentley Systems, Incorporated has a 1-year low of $30.52 and a 1-year high of $59.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The business’s 50-day simple moving average is $34.39 and its 200-day simple moving average is $37.49.

Bentley Systems (NASDAQ:BSY) last released 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 business had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Equities analysts predict that Bentley Systems, Incorporated will post 1.23 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 10th. Bentley Systems’s payout ratio is currently 31.82%.

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.