Bentley Systems, Incorporated $BSY Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 16.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,650 shares of the company’s stock after acquiring an additional 1,101 shares during the period. Maryland State Retirement & Pension System’s holdings in Bentley Systems were worth $413,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after buying an additional 898,115 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Bentley Systems by 1.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock worth $636,027,000 after buying an additional 160,496 shares during the period. Swedbank AB boosted its position in shares of Bentley Systems by 1.6% during the first quarter. Swedbank AB now owns 7,119,208 shares of the company’s stock worth $280,070,000 after buying an additional 111,884 shares during the period. Bessemer Group Inc. boosted its position in shares of Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock worth $74,086,000 after buying an additional 1,883,185 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Bentley Systems by 2.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 895,213 shares of the company’s stock worth $35,218,000 after buying an additional 24,258 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Up 3.0%

Bentley Systems stock opened at $50.85 on Tuesday. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market cap of $14.85 billion, a PE ratio of 64.37, a P/E/G ratio of 3.98 and a beta of 1.07. The stock’s fifty day moving average is $53.31 and its two-hundred day moving average is $50.53.

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

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Bentley Systems’s payout ratio is 35.44%.

Analyst Upgrades and Downgrades

BSY has been the subject of several research analyst reports. KeyCorp raised their price target on Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Piper Sandler lifted their target price on Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Robert W. Baird set a $64.00 target price on Bentley Systems and gave the company an “outperform” rating in a report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bentley Systems has an average rating of “Hold” and a consensus target price of $56.64.

About Bentley Systems

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.