Treasurer of the State of North Carolina Buys 3,303 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Treasurer of the State of North Carolina boosted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSYFree Report) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,499 shares of the company’s stock after purchasing an additional 3,303 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Bentley Systems were worth $4,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Bentley Systems during the 4th quarter worth about $6,382,000. Handelsbanken Fonder AB lifted its holdings in shares of Bentley Systems by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock worth $41,426,000 after buying an additional 38,120 shares during the last quarter. Raymond James & Associates boosted its position in shares of Bentley Systems by 2.8% in the fourth quarter. Raymond James & Associates now owns 1,119,244 shares of the company’s stock valued at $58,402,000 after acquiring an additional 30,143 shares during the period. Victory Capital Management Inc. grew its stake in shares of Bentley Systems by 70.0% in the third quarter. Victory Capital Management Inc. now owns 159,748 shares of the company’s stock worth $8,013,000 after acquiring an additional 65,780 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Bentley Systems by 2.6% during the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock worth $1,091,604,000 after acquiring an additional 556,363 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 59,420 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the completion of the sale, the director now owns 16,972,383 shares of the company’s stock, valued at $933,650,788.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Keith A. Bentley sold 59,420 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the sale, the director now owns 16,972,383 shares in the company, valued at $933,650,788.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Bentley sold 118,949 shares of Bentley Systems stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the transaction, the director now directly owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The disclosure for this sale can be found here. Insiders have sold a total of 284,315 shares of company stock worth $15,148,243 over the last ninety days. Corporate insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BSY. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Piper Sandler reissued an “overweight” rating and set a $63.00 target price (up from $60.00) on shares of Bentley Systems in a research report on Wednesday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Mizuho raised their price objective on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird boosted their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average target price of $61.29.

Check Out Our Latest Research Report on BSY

Bentley Systems Price Performance

Bentley Systems stock opened at $49.69 on Tuesday. The business has a 50 day simple moving average of $52.43 and a 200 day simple moving average of $51.39. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $14.33 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 4.44 and a beta of 1.08. Bentley Systems, Incorporated has a one year low of $44.76 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSYGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The company had revenue of $337.76 million during the quarter, compared to analysts’ expectations of $335.00 million. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.85 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, June 4th will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. Bentley Systems’s dividend payout ratio (DPR) is presently 22.43%.

About Bentley Systems

(Free Report)

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.

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

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