Bentley Systems, Incorporated $BSY Holdings Cut by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 63.6% during the first quarter, Holdings Channel reports. The firm owned 27,567 shares of the company’s stock after selling 48,194 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Bentley Systems were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cresset Asset Management LLC increased its position in Bentley Systems by 6.5% in the third quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock worth $251,000 after buying an additional 296 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Bentley Systems by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company’s stock worth $2,532,000 after acquiring an additional 305 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ increased its holdings 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 worth $1,910,000 after acquiring an additional 326 shares during the period. National Pension Service lifted its position in Bentley Systems by 63.0% in the 4th quarter. National Pension Service now owns 880 shares of the company’s stock valued at $34,000 after purchasing an additional 340 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in Bentley Systems by 63.7% in the 4th quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock valued at $34,000 after purchasing an additional 346 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.3%

Shares of NASDAQ:BSY opened at $31.75 on Tuesday. 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 stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.04 and a beta of 1.00. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $59.25. The company has a 50 day moving average price of $31.78 and a 200 day moving average price of $34.64.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. During the same quarter last year, the business posted $0.35 EPS. Bentley Systems’s revenue was up 14.5% on a year-over-year basis. On average, research analysts anticipate that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is 31.82%.

Wall Street Analyst Weigh In

BSY has been the subject of several recent analyst reports. BNP Paribas Exane began coverage on shares of Bentley Systems in a research report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 target price for the company. Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 30th. Zacks Research lowered Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $42.00 to $45.00 in a research report on Friday, May 8th. Finally, Barclays cut their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.54.

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.