State of New Jersey Common Pension Fund D Purchases 3,965 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

State of New Jersey Common Pension Fund D boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 121,769 shares of the company’s stock after acquiring an additional 3,965 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bentley Systems were worth $6,354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of Bentley Systems by 2.7% during the third quarter. Raymond James & Associates now owns 1,089,101 shares of the company’s stock valued at $54,629,000 after buying an additional 28,634 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Bentley Systems during the fourth quarter valued at approximately $6,382,000. Handelsbanken Fonder AB boosted its position in shares of Bentley Systems by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock valued at $41,426,000 after buying an additional 38,120 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Bentley Systems by 70.0% during the third quarter. Victory Capital Management Inc. now owns 159,748 shares of the company’s stock valued at $8,013,000 after buying an additional 65,780 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Bentley Systems by 2.6% during the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after buying an additional 556,363 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Insider Activity at Bentley Systems

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

Analyst Ratings Changes

Several research firms have weighed in on BSY. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Piper Sandler restated an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Rosenblatt Securities upgraded Bentley Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $54.00 to $60.00 in a research note on Monday, February 26th. William Blair initiated coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Finally, Robert W. Baird boosted their target price on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.44.

Bentley Systems Stock Down 0.7 %

Shares of NASDAQ:BSY traded down $0.38 during trading on Friday, hitting $53.99. The stock had a trading volume of 904,304 shares, compared to its average volume of 1,335,944. Bentley Systems, Incorporated has a 12 month low of $41.44 and a 12 month high of $55.37. The company has a market capitalization of $15.43 billion, a PE ratio of 54.54, a PEG ratio of 5.48 and a beta of 1.10. The firm’s fifty day moving average is $50.78 and its 200 day moving average is $50.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The business had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. During the same period last year, the business posted $0.13 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. 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 given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s payout ratio is 24.24%.

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.