California State Teachers Retirement System Has $14.88 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

California State Teachers Retirement System lessened its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 284,968 shares of the company’s stock after selling 8,879 shares during the period. California State Teachers Retirement System owned about 0.10% of Bentley Systems worth $14,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BSY. Private Trust Co. NA boosted its stake in Bentley Systems by 87.3% in the 4th 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. Fifth Third Bancorp grew its holdings in shares of Bentley Systems by 97.4% during the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Bentley Systems by 496.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock valued at $47,000 after buying an additional 749 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Bentley Systems in the fourth quarter valued at about $72,000. Finally, Global Retirement Partners LLC raised its stake in shares of Bentley Systems by 439.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock worth $73,000 after acquiring an additional 1,226 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective (up previously from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Finally, Mizuho upped their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Bentley Systems Stock Performance

BSY stock opened at $45.86 on Friday. The firm has a market cap of $13.23 billion, a PE ratio of 44.49, a P/E/G ratio of 4.31 and a beta of 1.03. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. The business’s 50-day moving average price is $49.92 and its two-hundred day moving average price is $50.98. Bentley Systems, Incorporated has a 1-year low of $44.76 and a 1-year high of $57.19.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm had revenue of $337.76 million for the quarter, compared to the consensus estimate of $335.00 million. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. As a group, research analysts forecast that Bentley Systems, Incorporated will post 0.85 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. Bentley Systems’s dividend payout ratio (DPR) is 22.43%.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 59,420 shares of Bentley Systems 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 in the company, valued at $933,650,788.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bentley Systems news, Director Keith A. Bentley sold 118,949 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the transaction, the director now directly owns 17,031,803 shares in the company, valued at $936,919,483.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Bentley sold 59,420 shares of the 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 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 disclosure for this sale can be found here. 21.12% of the stock is owned by insiders.

Bentley Systems Company 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.