Pacer Advisors Inc. Sells 21,007 Shares of Bentley Systems, Incorporated $BSY

Pacer Advisors Inc. decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 332,221 shares of the company’s stock after selling 21,007 shares during the period. Pacer Advisors Inc. owned about 0.11% of Bentley Systems worth $11,668,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BSY. Geneos Wealth Management Inc. increased its position in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the period. Invesco Ltd. boosted its stake in Bentley Systems by 2.6% during the second quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after buying an additional 9,557 shares in the last quarter. First Trust Advisors LP increased its holdings in Bentley Systems by 97.5% in the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock valued at $8,670,000 after buying an additional 79,286 shares during the period. Brown Advisory Inc. acquired a new position in shares of Bentley Systems in the 2nd quarter valued at $212,000. Finally, Cresset Asset Management LLC bought a new position in shares of Bentley Systems during the 2nd quarter worth about $248,000. Institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BSY. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. Barclays lowered their price objective 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. Bank of America initiated coverage on Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 target price for the company. BNP Paribas Exane started coverage on Bentley Systems in a research report on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Zacks Research lowered Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.00.

Bentley Systems Trading Up 0.5%

Shares of BSY stock opened at $36.08 on Wednesday. The company has a market capitalization of $10.55 billion, a P/E ratio of 41.00, a P/E/G ratio of 2.31 and a beta of 0.98. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $58.19. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $31.95 and a 200 day moving average price of $33.98.

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, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. Research analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued 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, June 2nd. Bentley Systems’s payout ratio is presently 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.