Bentley Systems, Incorporated $BSY Stake Trimmed by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 18.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,549 shares of the company’s stock after selling 1,456 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Bentley Systems were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. ASR Vermogensbeheer N.V. purchased a new position in Bentley Systems in the 1st quarter worth about $291,000. Vanguard Group Inc. boosted its position in Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after acquiring an additional 898,115 shares during the period. ING Groep NV acquired a new stake in Bentley Systems during the 1st quarter worth about $4,233,000. Blair William & Co. IL boosted its position in Bentley Systems by 5.9% during the 1st quarter. Blair William & Co. IL now owns 18,129 shares of the company’s stock worth $713,000 after acquiring an additional 1,005 shares during the period. Finally, XTX Topco Ltd boosted its position in Bentley Systems by 272.4% during the 1st quarter. XTX Topco Ltd now owns 33,339 shares of the company’s stock worth $1,312,000 after acquiring an additional 24,387 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Activity

In related news, Director Raymond B. Bentley sold 355,103 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the sale, the director owned 15,992,321 shares in the company, valued at approximately $798,976,357.16. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the transaction, the director directly owned 3,859,327 shares in the company, valued at $214,347,021.58. The trade was a 3.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,189,869 shares of company stock valued at $60,880,388. 20.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on BSY. Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Oppenheimer lifted their price target on Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Robert W. Baird set a $64.00 price target on Bentley Systems and gave the company an “outperform” rating in a report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, UBS Group lifted their price target on Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.60.

Bentley Systems Price Performance

NASDAQ:BSY opened at $53.64 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. The firm has a market cap of $15.67 billion, a PE ratio of 67.90, a price-to-earnings-growth ratio of 4.29 and a beta of 1.10. The company’s 50-day moving average price is $54.55 and its two-hundred day moving average price is $47.94. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $364.11 million for the quarter, compared to analysts’ expectations of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, equities analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio (DPR) is 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.