LPL Financial LLC Increases Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

LPL Financial LLC grew its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,874 shares of the company’s stock after purchasing an additional 2,096 shares during the quarter. LPL Financial LLC’s holdings in Bentley Systems were worth $2,102,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings in Bentley Systems by 42.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,106 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares during the last quarter. Commerce Bank grew its stake in Bentley Systems by 6.0% in the third quarter. Commerce Bank now owns 7,859 shares of the company’s stock valued at $240,000 after purchasing an additional 443 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Bentley Systems by 28.7% in the first quarter. Lazard Asset Management LLC now owns 2,123 shares of the company’s stock worth $93,000 after buying an additional 473 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Bentley Systems by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 24,907 shares of the company’s stock valued at $1,100,000 after buying an additional 598 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its position in Bentley Systems by 2.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 24,508 shares of the company’s stock worth $750,000 after acquiring an additional 620 shares during the last quarter. 36.12% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Trading Up 1.8 %

Shares of Bentley Systems stock opened at $46.90 on Tuesday. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 91.96, a PEG ratio of 8.56 and a beta of 1.20. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.72. The company’s 50-day moving average price is $42.75 and its 200-day moving average price is $40.08. Bentley Systems, Incorporated has a 12-month low of $29.97 and a 12-month high of $47.21.

Bentley Systems (NASDAQ:BSY – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $287.00 million for the quarter, compared to analysts’ expectations of $280.85 million. Bentley Systems had a net margin of 14.40% and a return on equity of 38.40%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. On average, equities analysts expect that Bentley Systems, Incorporated will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BSY. Rosenblatt Securities lowered shares of Bentley Systems from a “buy” rating to a “neutral” rating and boosted their price target for the company from $43.00 to $47.00 in a report on Wednesday, May 10th. Oppenheimer upped their price target on shares of Bentley Systems from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, March 1st. Mizuho increased their price objective on Bentley Systems from $45.00 to $51.00 in a report on Wednesday, May 10th. Griffin Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, May 10th. Finally, The Goldman Sachs Group downgraded Bentley Systems from a “buy” rating to a “neutral” rating and upped their target price for the company from $45.00 to $47.00 in a research report on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $50.78.

Insider Activity

In related news, CEO Gregory S. Bentley sold 129,691 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.59, for a total value of $5,912,612.69. Following the transaction, the chief executive officer now owns 8,136,962 shares of the company’s stock, valued at $370,964,097.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Bentley Systems news, insider David R. Shaman sold 6,454 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $45.05, for a total value of $290,752.70. Following the completion of the transaction, the insider now owns 568,799 shares of the company’s stock, valued at $25,624,394.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory S. Bentley sold 129,691 shares of Bentley Systems stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $45.59, for a total transaction of $5,912,612.69. Following the sale, the chief executive officer now owns 8,136,962 shares of the company’s stock, valued at $370,964,097.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,698 shares of company stock worth $11,795,673. 21.74% of the stock is currently owned by insiders.

Bentley Systems Profile

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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.