California Public Employees Retirement System Sells 48,536 Shares of Bentley Systems, Incorporated $BSY

California Public Employees Retirement System decreased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356,171 shares of the company’s stock after selling 48,536 shares during the period. California Public Employees Retirement System owned about 0.12% of Bentley Systems worth $12,509,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in Bentley Systems during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. increased its stake in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the period. Physician Wealth Advisors Inc. increased its stake in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after purchasing an additional 352 shares during the period. Royal London Asset Management Ltd. bought a new stake in Bentley Systems in the fourth quarter valued at approximately $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in Bentley Systems in the fourth quarter valued at approximately $34,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Up 4.2%

Shares of BSY stock opened at $31.40 on Friday. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 1.94 and a beta of 1.00. The company’s fifty day moving average price is $31.61 and its 200-day moving average price is $34.22. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $59.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 31.82%.

Analyst Upgrades and Downgrades

BSY has been the topic of several recent analyst reports. UBS Group cut their target price on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Bank of America started coverage on shares of Bentley Systems in a research report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Research downgraded shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Weiss Ratings cut shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. Finally, Barclays lowered their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Bentley Systems Company Profile

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.