Arizona State Retirement System Has $2.17 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Arizona State Retirement System raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,398 shares of the company’s stock after buying an additional 943 shares during the quarter. Arizona State Retirement System’s holdings in Bentley Systems were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. CIBC Asset Management Inc increased its holdings in shares of Bentley Systems by 4.3% in the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after acquiring an additional 378 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after acquiring an additional 378 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after acquiring an additional 380 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Bentley Systems by 5.4% in the fourth quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $427,000 after acquiring an additional 467 shares in the last quarter. Finally, Norden Group LLC increased its holdings in shares of Bentley Systems by 8.3% in the fourth quarter. Norden Group LLC now owns 6,250 shares of the company’s stock worth $292,000 after acquiring an additional 479 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BSY. Robert W. Baird lowered their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Piper Sandler decreased their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. initiated coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and an average target price of $56.14.

Bentley Systems Stock Down 4.4 %

BSY stock opened at $41.14 on Tuesday. 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 has a 50 day moving average price of $45.84 and a two-hundred day moving average price of $47.97. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 37.06, a P/E/G ratio of 3.52 and a beta of 1.04. Bentley Systems, Incorporated has a twelve month low of $40.98 and a twelve month high of $57.19.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.68%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is currently 38.36%.

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.