New Mexico Educational Retirement Board Buys Shares of 31,000 Bentley Systems, Incorporated $BSY

New Mexico Educational Retirement Board bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,000 shares of the company’s stock, valued at approximately $1,183,000.

A number of other institutional investors have also recently added to or reduced their stakes in BSY. Geneos Wealth Management Inc. lifted its stake in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Bentley Systems by 2.6% in the second quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after buying an additional 9,557 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Bentley Systems by 97.5% in the second quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock worth $8,670,000 after buying an additional 79,286 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of Bentley Systems in the second quarter worth $212,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Bentley Systems in the second quarter worth $248,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSY has been the subject of a number of analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Mizuho reduced their price objective on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Weiss Ratings cut shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Bank of America started coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Rosenblatt Securities dropped their target price on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Bentley Systems currently has an average rating of “Hold” and an average price target of $47.00.

Bentley Systems Trading Down 3.5%

Shares of BSY stock opened at $34.00 on Wednesday. Bentley Systems, Incorporated has a 1 year low of $30.52 and a 1 year high of $59.25. The firm’s fifty day simple moving average is $33.79 and its 200 day simple moving average is $36.81. The firm has a market capitalization of $9.94 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.00. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Bentley Systems’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 1.19 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 2nd. Bentley Systems’s payout ratio is 31.82%.

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.