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

Arizona State Retirement System grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,398 shares of the company’s stock after acquiring an additional 943 shares during the period. Arizona State Retirement System’s holdings in Bentley Systems were worth $2,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management acquired a new stake in Bentley Systems during the 4th quarter worth approximately $8,413,000. Needham Investment Management LLC acquired a new stake in Bentley Systems during the 3rd quarter worth approximately $2,134,000. Mirabella Financial Services LLP lifted its holdings in 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 last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Bentley Systems during the 4th quarter worth approximately $809,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BSY shares. Robert W. Baird dropped 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. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. Oppenheimer lowered Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. began coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Insider Activity

In other news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the transaction, the director now owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Trading Down 4.4 %

Shares of BSY opened at $41.14 on Tuesday. Bentley Systems, Incorporated has a 52-week low of $40.98 and a 52-week high of $57.19. The business’s fifty day moving average is $45.84 and its 200-day moving average is $47.97. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

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