Teacher Retirement System of Texas Makes New Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Teacher Retirement System of Texas acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,375 shares of the company’s stock, valued at approximately $920,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSY. Proficio Capital Partners LLC purchased a new position in Bentley Systems during the 4th quarter worth $809,000. Polen Capital Management LLC purchased a new position in Bentley Systems during the 4th quarter worth $1,000,000. Intech Investment Management LLC boosted its holdings in shares of Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after acquiring an additional 254 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Bentley Systems by 3.2% in the fourth quarter. Xponance Inc. now owns 29,769 shares of the company’s stock valued at $1,390,000 after acquiring an additional 935 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Bentley Systems in the fourth quarter valued at about $3,867,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BSY. Mizuho reduced their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. UBS Group raised their price objective on shares of Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Oppenheimer raised their price objective on shares of Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Bentley Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Finally, KeyCorp raised their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.30.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 122,114 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares of the company’s stock, valued at $778,114,396.80. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David R. Shaman sold 19,156 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $54.98, for a total transaction of $1,053,196.88. Following the completion of the sale, the insider directly owned 670,558 shares in the company, valued at $36,867,278.84. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,181,519 shares of company stock valued at $60,257,023. Insiders own 20.56% of the company’s stock.

Bentley Systems Price Performance

Bentley Systems stock opened at $56.98 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $57.42. The firm has a 50 day moving average price of $50.28 and a 200 day moving average price of $46.22. The company has a market cap of $16.63 billion, a price-to-earnings ratio of 72.13, a PEG ratio of 4.58 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The company had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Bentley Systems’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.49%. Bentley Systems’s dividend payout ratio is presently 35.44%.

Bentley Systems Profile

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.