Teacher Retirement System of Texas Lowers Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Teacher Retirement System of Texas reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 40.7% during the fourth quarter, HoldingsChannel reports. The fund owned 9,716 shares of the company’s stock after selling 6,658 shares during the period. Teacher Retirement System of Texas’ holdings in Bentley Systems were worth $507,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA increased its position in shares of Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after acquiring an additional 254 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings in shares of Bentley Systems by 3.9% during the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock valued at $383,000 after purchasing an additional 277 shares in the last quarter. Portside Wealth Group LLC boosted its position in shares of Bentley Systems by 2.8% during the fourth quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock valued at $595,000 after buying an additional 308 shares during the last quarter. Dfpg Investments LLC increased its holdings in Bentley Systems by 2.0% in the 4th quarter. Dfpg Investments LLC now owns 17,821 shares of the company’s stock worth $930,000 after buying an additional 341 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Bentley Systems by 97.4% in the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after buying an additional 371 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Activity at Bentley Systems

In other news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Bentley Systems news, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the sale, the director now owns 17,031,803 shares of the company’s stock, valued at approximately $936,919,483.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 284,315 shares of company stock worth $15,148,243. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Up 1.2 %

Bentley Systems stock opened at $53.29 on Monday. Bentley Systems, Incorporated has a 12 month low of $44.76 and a 12 month high of $57.19. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. The stock’s 50 day simple moving average is $52.36 and its two-hundred day simple moving average is $51.43. The firm has a market cap of $15.37 billion, a PE ratio of 49.80, a P/E/G ratio of 4.71 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The business had revenue of $337.76 million for the quarter, compared to analyst estimates of $335.00 million. Analysts anticipate that Bentley Systems, Incorporated will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BSY. Robert W. Baird raised their price target on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $63.00 price objective (up from $60.00) on shares of Bentley Systems in a research note on Wednesday, May 8th. William Blair initiated coverage on Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating on the stock. Mizuho increased their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

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.