California Public Employees Retirement System Sells 123,169 Shares of Bentley Systems, Incorporated $BSY

California Public Employees Retirement System cut its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 18.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 539,430 shares of the company’s stock after selling 123,169 shares during the period. California Public Employees Retirement System’s holdings in Bentley Systems were worth $29,113,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BSY. Vanguard Group Inc. lifted its holdings in Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after buying an additional 898,115 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Bentley Systems by 1.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock valued at $636,027,000 after acquiring an additional 160,496 shares during the period. Swedbank AB raised its position in shares of Bentley Systems by 1.6% in the 1st quarter. Swedbank AB now owns 7,119,208 shares of the company’s stock worth $280,070,000 after acquiring an additional 111,884 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bentley Systems by 5.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock worth $173,877,000 after acquiring an additional 155,078 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Bentley Systems by 207.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after purchasing an additional 2,066,725 shares during the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BSY shares. Piper Sandler cut their target price on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Barclays began coverage on shares of Bentley Systems in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a research note on Thursday, November 6th. Finally, Robert W. Baird decreased their target price on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Price Performance

Shares of BSY stock opened at $40.91 on Thursday. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 3.23 and a beta of 1.23. The stock’s 50-day simple moving average is $47.01 and its 200-day simple moving average is $51.16.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $375.55 million during the quarter, compared to analysts’ expectations of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. Bentley Systems’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Bentley Systems’s payout ratio is 33.33%.

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.