Prudential PLC Sells 47,273 Shares of Bentley Systems, Incorporated $BSY

Prudential PLC trimmed its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 75.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,124 shares of the company’s stock after selling 47,273 shares during the quarter. Prudential PLC’s holdings in Bentley Systems were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. increased its stake in shares of Bentley Systems by 54,633.0% in the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after acquiring an additional 297,750 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Bentley Systems by 5.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company’s stock worth $49,157,000 after acquiring an additional 51,883 shares in the last quarter. Aviso Financial Inc. bought a new position in shares of Bentley Systems in the 3rd quarter worth about $930,000. Vanguard Group Inc. increased its stake in shares of Bentley Systems by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after acquiring an additional 1,792,591 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Bentley Systems by 22.0% in the 3rd quarter. Fisher Asset Management LLC now owns 171,805 shares of the company’s stock worth $8,845,000 after acquiring an additional 30,972 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Up 0.3%

NASDAQ:BSY opened at $33.02 on Tuesday. The firm has a market cap of $9.65 billion, a P/E ratio of 37.52, a P/E/G ratio of 2.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems, Incorporated has a fifty-two week low of $30.52 and a fifty-two week high of $59.25. The firm has a 50-day simple moving average of $33.42 and a two-hundred day simple moving average of $36.46.

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 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%. Bentley Systems’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. Analysts predict that Bentley Systems, Incorporated will post 1.19 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 2nd. Bentley Systems’s dividend payout ratio (DPR) is presently 31.82%.

Wall Street Analyst Weigh In

BSY has been the subject of several research reports. 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 research note on Friday, May 8th. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Oppenheimer reduced their price objective on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Finally, Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $42.00 to $45.00 in a research note 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.00.

Bentley Systems 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.