California State Teachers Retirement System Trims Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

California State Teachers Retirement System lowered its holdings in Bentley Systems, Incorporated (NASDAQ:BSYFree Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,847 shares of the company’s stock after selling 9,653 shares during the quarter. California State Teachers Retirement System owned 0.10% of Bentley Systems worth $15,333,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSY. Private Trust Co. NA grew its stake in shares of Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after buying an additional 254 shares in the last quarter. MJP Associates Inc. ADV grew its stake in shares of Bentley Systems by 3.9% in the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock valued at $383,000 after buying an additional 277 shares in the last quarter. Portside Wealth Group LLC grew its stake in shares of Bentley Systems by 2.8% in the fourth quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock valued at $595,000 after buying an additional 308 shares in the last quarter. Dfpg Investments LLC grew its stake in Bentley Systems by 2.0% during the 4th quarter. Dfpg Investments LLC now owns 17,821 shares of the company’s stock worth $930,000 after purchasing an additional 341 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Bentley Systems by 97.4% during the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.9 %

NASDAQ:BSY opened at $50.82 on Friday. Bentley Systems, Incorporated has a 1 year low of $44.76 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $14.66 billion, a P/E ratio of 47.50, a P/E/G ratio of 4.48 and a beta of 1.04. The stock has a 50-day simple moving average of $52.32 and a 200-day simple moving average of $51.34.

Bentley Systems (NASDAQ:BSYGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The business had revenue of $337.76 million during the quarter, compared to the consensus estimate of $335.00 million. As a group, analysts anticipate that Bentley Systems, Incorporated will post 0.85 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Tuesday, June 4th. Bentley Systems’s payout ratio is currently 22.43%.

Analyst Ratings Changes

Several research analysts recently commented on the company. William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Mizuho boosted their target price on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, 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 note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.29.

Get Our Latest Report on BSY

Insider Activity

In other news, Director Keith A. Bentley sold 59,420 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $55.01, for a total value of $3,268,694.20. Following the completion of the sale, the director now directly owns 16,972,383 shares of the company’s stock, valued at approximately $933,650,788.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the company’s 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 completion of the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Bentley sold 59,420 shares of the company’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 value of $3,268,694.20. Following the sale, the director now directly owns 16,972,383 shares of the company’s stock, valued at $933,650,788.83. The disclosure for this sale can be found here. In the last three months, insiders sold 195,390 shares of company stock valued at $10,748,234. Insiders own 21.12% of the company’s stock.

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.

Featured Articles

Want to see what other hedge funds are holding BSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bentley Systems, Incorporated (NASDAQ:BSYFree Report).

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

Receive News & Ratings for Bentley Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bentley Systems and related companies with MarketBeat.com's FREE daily email newsletter.