California Public Employees Retirement System Trims Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

California Public Employees Retirement System cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 679,939 shares of the company’s stock after selling 9,691 shares during the period. California Public Employees Retirement System owned 0.23% of Bentley Systems worth $31,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems in the 3rd quarter worth approximately $30,000. Private Trust Co. NA raised its holdings in Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares in the last quarter. Tobam purchased a new position in Bentley Systems during the fourth quarter valued at $55,000. Atala Financial Inc bought a new stake in shares of Bentley Systems during the 4th quarter valued at $55,000. Finally, Tortoise Investment Management LLC grew its position in shares of Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock worth $78,000 after buying an additional 728 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Piper Sandler dropped their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird lowered their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, UBS Group initiated coverage on Bentley Systems in a research report on Monday. They issued a “neutral” rating and a $48.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bentley Systems currently has an average rating of “Hold” and a consensus price target of $55.13.

Bentley Systems Trading Up 1.6 %

Bentley Systems stock opened at $41.13 on Thursday. Bentley Systems, Incorporated has a one year low of $38.66 and a one year high of $57.19. The business’s fifty day moving average is $44.12 and its 200 day moving average is $46.99. The stock has a market capitalization of $11.99 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.68%. Bentley Systems’s payout ratio is currently 38.36%.

Insider Activity

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 21.12% of the stock is owned by corporate 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.