New Mexico Educational Retirement Board Purchases Shares of 31,000 Bentley Systems, Incorporated $BSY

New Mexico Educational Retirement Board purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 31,000 shares of the company’s stock, valued at approximately $1,183,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. DT Investment Partners LLC bought a new stake in Bentley Systems in the 4th quarter valued at $526,000. Walter Public Investments Inc. increased its holdings in Bentley Systems by 100.0% in the 4th quarter. Walter Public Investments Inc. now owns 12,000 shares of the company’s stock valued at $458,000 after buying an additional 6,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Bentley Systems in the 4th quarter valued at $1,422,000. Forsta AP Fonden increased its holdings in Bentley Systems by 10.4% in the 4th quarter. Forsta AP Fonden now owns 40,200 shares of the company’s stock valued at $1,534,000 after buying an additional 3,800 shares during the period. Finally, Norges Bank bought a new stake in Bentley Systems in the 4th quarter valued at $68,766,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Down 3.5%

Shares of NASDAQ:BSY opened at $34.00 on Wednesday. Bentley Systems, Incorporated has a 12 month low of $30.52 and a 12 month high of $59.25. The company’s 50-day moving average price is $33.79 and its two-hundred day moving average price is $36.81. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The firm has a market cap of $9.94 billion, a P/E ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s dividend payout ratio is currently 31.82%.

Analyst Ratings Changes

BSY has been the topic of several analyst reports. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $45.00 in a report on Friday, May 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Mizuho lowered their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Finally, Oppenheimer lowered their target price on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Hold” and an average price target of $47.00.

About Bentley Systems

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.