California Public Employees Retirement System Trims Stake in Bentley Systems, Incorporated $BSY

California Public Employees Retirement System cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 12.0% in the first quarter, HoldingsChannel reports. The fund owned 356,171 shares of the company’s stock after selling 48,536 shares during the period. California Public Employees Retirement System’s holdings in Bentley Systems were worth $12,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Bentley Systems during the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after buying an additional 627 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Bentley Systems by 80.2% during the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after buying an additional 352 shares in the last quarter. Royal London Asset Management Ltd. acquired a new stake in Bentley Systems during the fourth quarter valued at $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new position in Bentley Systems in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Up 4.2%

NASDAQ BSY opened at $31.40 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems, Incorporated has a 12 month low of $28.08 and a 12 month high of $59.25. The company has a market cap of $9.18 billion, a P/E ratio of 35.68, a P/E/G ratio of 1.94 and a beta of 1.00. The company has a 50-day moving average of $31.61 and a 200-day moving average of $34.22.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. As a group, equities analysts predict that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a yield of 0.9%. Bentley Systems’s payout ratio is presently 31.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BSY. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. Zacks Research lowered Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. BMO Capital Markets set a $41.00 price target on Bentley Systems in a research report on Friday. Barclays lowered their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Finally, Bank of America started coverage on Bentley Systems in a research report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Bentley Systems Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.