Strs Ohio Has $1.28 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Strs Ohio grew its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,604 shares of the company’s stock after acquiring an additional 2,178 shares during the period. Strs Ohio’s holdings in Bentley Systems were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BSY. DnB Asset Management AS raised its position in shares of Bentley Systems by 0.7% in the third quarter. DnB Asset Management AS now owns 30,086 shares of the company’s stock valued at $1,509,000 after buying an additional 197 shares in the last quarter. M&T Bank Corp raised its position in shares of Bentley Systems by 0.4% in the third quarter. M&T Bank Corp now owns 57,456 shares of the company’s stock valued at $2,882,000 after buying an additional 218 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Bentley Systems by 1.9% in the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company’s stock valued at $607,000 after buying an additional 228 shares in the last quarter. Private Trust Co. NA raised its position in shares of Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after buying an additional 254 shares in the last quarter. Finally, MJP Associates Inc. ADV raised its position in shares of Bentley Systems by 3.9% in the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock valued at $383,000 after buying an additional 277 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

NASDAQ BSY opened at $53.20 on Tuesday. The company has a market capitalization of $15.20 billion, a price-to-earnings ratio of 53.74, a PEG ratio of 5.28 and a beta of 1.10. Bentley Systems, Incorporated has a twelve month low of $40.89 and a twelve month high of $55.37. The stock has a fifty day simple moving average of $50.59 and a 200 day simple moving average of $50.82. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72.

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

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s dividend payout ratio is 24.24%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BSY. Piper Sandler reissued an “overweight” rating and issued a $60.00 price objective on shares of Bentley Systems in a research note on Wednesday, February 28th. Robert W. Baird lifted their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Rosenblatt Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $60.00 in a research note on Monday, February 26th. Finally, William Blair assumed coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.44.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the sale, the director now 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 accessible through this hyperlink. Insiders own 21.12% of the company’s stock.

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.