California Public Employees Retirement System Boosts Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

California Public Employees Retirement System lifted its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,102,834 shares of the company's stock after acquiring an additional 57,545 shares during the period. California Public Employees Retirement System owned 0.39% of Bentley Systems worth $57,546,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BSY. CWM LLC raised its position in shares of Bentley Systems by 192.5% in the 3rd quarter. CWM LLC now owns 2,916 shares of the company's stock worth $146,000 after acquiring an additional 1,919 shares in the last quarter. SG Americas Securities LLC bought a new position in Bentley Systems during the 3rd quarter valued at approximately $354,000. Handelsbanken Fonder AB increased its position in Bentley Systems by 18.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 755,780 shares of the company's stock valued at $37,910,000 after buying an additional 119,480 shares in the last quarter. Simplicity Solutions LLC increased its position in Bentley Systems by 10.9% during the 3rd quarter. Simplicity Solutions LLC now owns 4,522 shares of the company's stock valued at $227,000 after buying an additional 445 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Bentley Systems by 36.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 41,487 shares of the company's stock valued at $2,081,000 after buying an additional 11,012 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on BSY shares. William Blair started coverage on Bentley Systems in a research report on Thursday, March 28th. They set an "outperform" rating for the company. Piper Sandler reiterated an "overweight" rating and set a $60.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Robert W. Baird increased 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. Finally, Rosenblatt Securities upgraded Bentley Systems from a "neutral" rating to a "buy" rating and increased their target price for the company from $54.00 to $60.00 in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $58.44.

Insider Transactions at Bentley Systems

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

Bentley Systems Stock Performance

Bentley Systems stock traded down $0.38 during trading on Friday, reaching $53.99. The company had a trading volume of 904,304 shares, compared to its average volume of 1,335,944. Bentley Systems, Incorporated has a 52 week low of $41.44 and a 52 week high of $55.37. The firm's 50-day simple moving average is $50.80 and its 200 day simple moving average is $50.89. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 54.54, a price-to-earnings-growth ratio of 5.48 and a beta of 1.10. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $310.64 million for the quarter, compared to analysts' expectations of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were issued 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 dividend on an annualized basis and a yield of 0.44%. Bentley Systems's dividend payout ratio (DPR) is currently 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.