California State Teachers Retirement System Trims Position in Bentley Systems, Incorporated $BSY

California State Teachers Retirement System decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 16.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,112 shares of the company’s stock after selling 36,551 shares during the quarter. California State Teachers Retirement System’s holdings in Bentley Systems were worth $6,677,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its position in shares of Bentley Systems by 253.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock valued at $167,924,000 after acquiring an additional 3,429,087 shares during the period. Pictet Asset Management Holding SA lifted its position in Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock valued at $163,703,000 after purchasing an additional 2,803,241 shares in the last quarter. Norges Bank purchased a new position in Bentley Systems during the fourth quarter valued at $68,766,000. Swedbank AB grew its holdings in Bentley Systems by 18.5% during the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after purchasing an additional 1,338,706 shares during the period. Finally, Madison Asset Management LLC purchased a new stake in Bentley Systems in the first quarter worth about $34,466,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $36.04 on Thursday. The firm has a market capitalization of $10.53 billion, a PE ratio of 40.96, a PEG ratio of 2.32 and a beta of 0.98. The stock’s fifty day moving average is $32.03 and its 200 day moving average is $33.96. Bentley Systems, Incorporated has a fifty-two week low of $28.08 and a fifty-two week high of $57.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s payout ratio is currently 31.82%.

Analyst Upgrades and Downgrades

BSY has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 16th. Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 target price on the stock. Barclays dropped their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. Finally, UBS Group decreased their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.