Bentley Systems, Incorporated (NASDAQ:BSY) Stake Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 51.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,020 shares of the company’s stock after selling 62,749 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bentley Systems were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BSY. Vanguard Group Inc. raised its position in shares of Bentley Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after purchasing an additional 134,516 shares during the period. Swedbank AB raised its holdings in Bentley Systems by 514.5% during the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock worth $204,069,000 after buying an additional 3,461,500 shares during the period. Envestnet Asset Management Inc. lifted its stake in Bentley Systems by 2.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,113,400 shares of the company’s stock valued at $58,097,000 after buying an additional 23,771 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bentley Systems by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 589,191 shares of the company’s stock worth $30,748,000 after buying an additional 11,923 shares during the period. Finally, Mizuho Markets Americas LLC boosted its holdings in shares of Bentley Systems by 22.9% in the second quarter. Mizuho Markets Americas LLC now owns 520,684 shares of the company’s stock worth $25,701,000 after buying an additional 97,000 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Monday. Finally, The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.57.

Bentley Systems Stock Performance

BSY stock opened at $49.97 on Thursday. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 46.70, a P/E/G ratio of 4.08 and a beta of 1.03. The firm has a 50 day moving average of $49.11 and a two-hundred day moving average of $50.54. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. During the same period in the prior year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, September 17th. Bentley Systems’s dividend payout ratio is 22.43%.

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Profile

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.