35,200 Shares in Bentley Systems, Incorporated $BSY Acquired by State of Michigan Retirement System

Key Points

• State of Michigan Retirement System established a new position in Bentley Systems (NASDAQ:BSY) during Q4, buying 35,200 shares worth about $1.34 million, part of institutional ownership totaling roughly 44.16%.
• Analyst sentiment is mixed but tilted positive: MarketBeat shows a consensus rating of Moderate Buy with an average target of $48.50, alongside recent price-target cuts and upgrades from various firms.
• Bentley reported Q4 EPS of $0.27 (in line) and revenue of $391.6M, up 11.9% year-over-year; shares opened near $33.56, the market cap is about $9.79B, and the company pays a $0.07 quarterly dividend (≈0.8% yield).

State of Michigan Retirement System bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,200 shares of the company's stock, valued at approximately $1,343,000.

A number of other institutional investors have also recently modified their holdings of BSY. Geneos Wealth Management Inc. grew its stake in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock worth $26,000 after acquiring an additional 627 shares during the last quarter. Invesco Ltd. grew its stake in shares of Bentley Systems by 2.6% in the second quarter. Invesco Ltd. now owns 375,054 shares of the company's stock worth $20,242,000 after acquiring an additional 9,557 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Bentley Systems by 97.5% in the second quarter. First Trust Advisors LP now owns 160,644 shares of the company's stock worth $8,670,000 after acquiring an additional 79,286 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Bentley Systems in the second quarter worth $212,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of Bentley Systems in the second quarter worth $248,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on BSY. Piper Sandler cut their target price on Bentley Systems from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Monday, March 2nd. Weiss Ratings cut Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 15th. Rosenblatt Securities cut their target price on Bentley Systems from $58.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, February 24th. Robert W. Baird set a $55.00 target price on Bentley Systems in a research note on Wednesday, January 7th. Finally, Zacks Research upgraded Bentley Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.50.

Bentley Systems Stock Performance

Shares of BSY opened at $33.56 on Friday. The business's fifty day simple moving average is $35.57 and its two-hundred day simple moving average is $39.30. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. Bentley Systems, Incorporated has a 12 month low of $30.83 and a 12 month high of $59.25. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 2.25 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The business had revenue of $391.58 million for the quarter, compared to the consensus estimate of $381.79 million. During the same period last year, the business posted $0.21 EPS. The company's revenue was up 11.9% compared to the same quarter last year. Research analysts anticipate that Bentley Systems, Incorporated will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, March 10th. Bentley Systems's dividend payout ratio (DPR) is currently 32.56%.

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.

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