State of New Jersey Common Pension Fund D Reduces Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

State of New Jersey Common Pension Fund D trimmed its position in Bentley Systems, Incorporated (NASDAQ:BSYFree Report) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,804 shares of the company’s stock after selling 5,718 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bentley Systems were worth $5,909,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BSY. Tower Research Capital LLC TRC grew its position in Bentley Systems by 261.5% in the first quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock worth $28,000 after acquiring an additional 476 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of Bentley Systems by 43.6% during the first quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock valued at $33,000 after buying an additional 230 shares during the period. State of Wyoming boosted its position in shares of Bentley Systems by 6,393.8% during the fourth quarter. State of Wyoming now owns 1,039 shares of the company’s stock valued at $38,000 after buying an additional 1,023 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Bentley Systems during the second quarter valued at approximately $54,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Bentley Systems by 315.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,226 shares of the company’s stock valued at $55,000 after buying an additional 931 shares during the period. 44.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Robert W. Baird boosted their target price on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Royal Bank of Canada boosted their target price on Bentley Systems from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. TheStreet raised shares of Bentley Systems from a “c” rating to a “b-” rating in a research note on Tuesday, November 7th. KeyCorp lifted their price target on shares of Bentley Systems from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target on shares of Bentley Systems in a research note on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Check Out Our Latest Analysis on Bentley Systems

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $51.49 on Tuesday. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 97.15, a price-to-earnings-growth ratio of 5.63 and a beta of 1.12. Bentley Systems, Incorporated has a 52 week low of $37.21 and a 52 week high of $55.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.28. The firm has a 50 day moving average of $50.53 and a 200 day moving average of $50.34.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Monday, December 4th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, December 1st. Bentley Systems’s dividend payout ratio (DPR) is 37.74%.

About Bentley Systems

(Free Report)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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