Public Employees Retirement System of Ohio Reduces Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,845 shares of the company’s stock after selling 11,204 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Bentley Systems were worth $4,616,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Bentley Systems in the third quarter worth $59,400,000. Needham Investment Management LLC bought a new stake in shares of Bentley Systems in the 3rd quarter worth about $2,134,000. Mirabella Financial Services LLP boosted its stake in shares of Bentley Systems by 1,155.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after purchasing an additional 92,768 shares during the period. Montanaro Asset Management Ltd grew its holdings in Bentley Systems by 8.8% during the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after purchasing an additional 26,741 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in Bentley Systems in the 2nd quarter worth about $6,999,000. Institutional investors own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

In other news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction on Monday, October 7th. The stock was sold at an average price of $48.37, for a total value of $1,692,321.19. Following the transaction, the director now directly owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 234,987 shares of company stock valued at $11,667,821. Company insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

BSY has been the subject of several recent analyst reports. Piper Sandler boosted their target price on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. began coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average price target of $58.43.

Bentley Systems Stock Down 2.3 %

Shares of NASDAQ:BSY opened at $47.13 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average is $48.97 and its 200 day moving average is $49.38. The stock has a market cap of $13.70 billion, a P/E ratio of 42.46, a price-to-earnings-growth ratio of 4.04 and a beta of 1.03. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 EPS. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. Bentley Systems’s dividend payout ratio is currently 21.62%.

Bentley Systems Company 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.