California Public Employees Retirement System lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679,939 shares of the company's stock after selling 9,691 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Bentley Systems worth $31,753,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems during the third quarter worth about $30,000. Private Trust Co. NA increased its position in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after purchasing an additional 378 shares during the period. Tobam bought a new position in Bentley Systems during the 4th quarter worth approximately $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems in the 4th quarter worth approximately $55,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock valued at $78,000 after purchasing an additional 728 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Bentley Systems
In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the transaction, the director now owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 21.12% of the stock is currently owned by insiders.
Bentley Systems Stock Up 1.2 %
NASDAQ:BSY traded up $0.46 on Monday, hitting $39.12. The stock had a trading volume of 2,502,070 shares, compared to its average volume of 1,263,854. The company has a market cap of $11.41 billion, a PE ratio of 35.24, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $57.19. The business's fifty day moving average is $43.68 and its 200 day moving average is $46.74. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.
Bentley Systems Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a $0.07 dividend. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Wednesday, March 19th. Bentley Systems's dividend payout ratio (DPR) is currently 38.36%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on BSY shares. Piper Sandler lowered their target price on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lowered their price objective on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. UBS Group assumed coverage on Bentley Systems in a research note on Monday, March 31st. They set a "neutral" rating and a $48.00 target price for the company. Finally, Oppenheimer lowered Bentley Systems from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $55.13.
Get Our Latest Report on Bentley Systems
Bentley Systems Company Profile
(
Free Report)
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.
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