California Public Employees Retirement System Buys 57,545 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

California Public Employees Retirement System lifted its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,102,834 shares of the company’s stock after purchasing an additional 57,545 shares during the period. California Public Employees Retirement System owned 0.39% of Bentley Systems worth $57,546,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BSY. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bentley Systems by 4.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after buying an additional 578,512 shares during the period. Vanguard Group Inc. raised its stake in shares of Bentley Systems by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after purchasing an additional 556,363 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Bentley Systems by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock valued at $54,656,000 after purchasing an additional 327,577 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bentley Systems by 13.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,734 shares of the company’s stock valued at $70,311,000 after purchasing an additional 170,581 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Bentley Systems in the fourth quarter valued at about $6,382,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Down 0.1 %

Shares of NASDAQ:BSY opened at $54.37 on Friday. The company has a market capitalization of $15.54 billion, a P/E ratio of 54.92, a P/E/G ratio of 5.48 and a beta of 1.10. Bentley Systems, Incorporated has a 1 year low of $40.92 and a 1 year high of $55.37. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55. The business’s 50 day simple moving average is $50.78 and its 200 day simple moving average is $50.89.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, research analysts anticipate that Bentley Systems, Incorporated will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.44%. Bentley Systems’s dividend payout ratio is presently 24.24%.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction 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 in the company, valued at $943,291,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at approximately $849,283,576.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. Corporate insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BSY shares. Piper Sandler restated an “overweight” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Robert W. Baird boosted their price target on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. William Blair started coverage on Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating on the stock. Rosenblatt Securities upgraded Bentley Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $54.00 to $60.00 in a report on Monday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.44.

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.