State of New Jersey Common Pension Fund D Sells 1,904 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,116 shares of the company’s stock after selling 1,904 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bentley Systems were worth $2,902,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of BSY. Allspring Global Investments Holdings LLC grew its holdings in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after acquiring an additional 685 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares during the period. Finally, Tortoise Investment Management LLC increased its stake in Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after acquiring an additional 358 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in 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 report on Wednesday, August 7th. Piper Sandler raised their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Price Performance

Bentley Systems stock opened at $48.43 on Thursday. The stock has a 50-day moving average price of $49.44 and a two-hundred day moving average price of $50.28. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19. The company has a market capitalization of $14.08 billion, a PE ratio of 44.03, a P/E/G ratio of 4.13 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. During the same quarter last year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts expect that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.06 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. Bentley Systems’s dividend payout ratio is 21.62%.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred on 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 transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the transaction, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction dated 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 sale, the director now owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $16,168,176 over the last three months. Company insiders own 21.12% of the company’s stock.

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.