State Board of Administration of Florida Retirement System Has $4.60 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

State Board of Administration of Florida Retirement System raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSYGet Rating) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,980 shares of the company’s stock after acquiring an additional 1,804 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.05% of Bentley Systems worth $4,595,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Intercontinental Wealth Advisors LLC lifted its stake in Bentley Systems by 40.1% in the second quarter. Intercontinental Wealth Advisors LLC now owns 15,482 shares of the company’s stock valued at $516,000 after acquiring an additional 4,431 shares during the last quarter. Thornburg Investment Management Inc. raised its position in shares of Bentley Systems by 0.4% in the second quarter. Thornburg Investment Management Inc. now owns 253,581 shares of the company’s stock valued at $8,444,000 after purchasing an additional 922 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Bentley Systems by 1.3% in the second quarter. TimesSquare Capital Management LLC now owns 1,281,500 shares of the company’s stock valued at $42,674,000 after purchasing an additional 16,300 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Bentley Systems by 10.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 114,514 shares of the company’s stock valued at $3,813,000 after purchasing an additional 10,957 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Bentley Systems by 42.6% in the second quarter. Vestmark Advisory Solutions Inc. now owns 157,675 shares of the company’s stock valued at $5,250,000 after purchasing an additional 47,098 shares during the period. 35.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BSY. Griffin Securities reissued a “hold” rating on shares of Bentley Systems in a research report on Wednesday, August 10th. The Goldman Sachs Group raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $38.00 to $44.00 in a research report on Wednesday, November 9th. Royal Bank of Canada dropped their target price on shares of Bentley Systems from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Wolfe Research started coverage on shares of Bentley Systems in a research report on Tuesday, August 16th. They set an “outperform” rating and a $48.00 target price on the stock. Finally, Rosenblatt Securities boosted their target price on shares of Bentley Systems from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.89.

Bentley Systems Trading Up 0.4 %

Shares of Bentley Systems stock opened at $38.73 on Monday. The firm has a market capitalization of $10.72 billion, a PE ratio of 65.65, a price-to-earnings-growth ratio of 6.63 and a beta of 1.20. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.60 and a quick ratio of 0.60. The company’s fifty day moving average price is $33.97 and its two-hundred day moving average price is $35.21. Bentley Systems, Incorporated has a 52-week low of $26.32 and a 52-week high of $60.20.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Thursday, September 8th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.31%. The ex-dividend date was Wednesday, September 7th. Bentley Systems’s dividend payout ratio (DPR) is presently 20.34%.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 39,286 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $37.95, for a total value of $1,490,903.70. Following the sale, the director now owns 13,344,171 shares in the company, valued at approximately $506,411,289.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barry J. Bentley sold 160,714 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $38.53, for a total value of $6,192,310.42. Following the sale, the director now owns 13,383,457 shares in the company, valued at approximately $515,664,598.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 39,286 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $37.95, for a total transaction of $1,490,903.70. Following the completion of the sale, the director now owns 13,344,171 shares in the company, valued at approximately $506,411,289.45. The disclosure for this sale can be found here. Insiders have sold 365,790 shares of company stock valued at $13,786,454 in the last 90 days. 22.53% of the stock is currently owned by company insiders.

About Bentley Systems

(Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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