Bentley Systems, Incorporated (NASDAQ:BSY) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 121,769 shares of the company’s stock after buying an additional 3,965 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bentley Systems were worth $6,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in shares of Bentley Systems by 223.4% in the third quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock worth $52,432,000 after acquiring an additional 722,046 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bentley Systems by 4.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after purchasing an additional 578,512 shares during the period. Vanguard Group Inc. increased its position in shares of Bentley Systems by 2.6% during the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after acquiring an additional 556,363 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Bentley Systems by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock valued at $54,656,000 after acquiring an additional 327,577 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Bentley Systems by 13.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,734 shares of the company’s stock valued at $70,311,000 after acquiring an additional 170,581 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Bentley Systems stock traded down $0.38 during mid-day trading on Friday, reaching $53.99. The company’s stock had a trading volume of 904,304 shares, compared to its average volume of 1,335,944. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 54.54, a PEG ratio of 5.48 and a beta of 1.10. The business has a 50 day moving average price of $50.78 and a 200-day moving average price of $50.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. Bentley Systems, Incorporated has a twelve month low of $41.44 and a twelve month high of $55.37.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. Bentley Systems’s dividend payout ratio is currently 24.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BSY. Piper Sandler restated an “overweight” rating and issued a $60.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Robert W. Baird boosted their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Rosenblatt Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $54.00 to $60.00 in a research report on Monday, February 26th. Finally, William Blair assumed coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.44.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the completion of the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is owned by insiders.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.