Invesco Ltd. Trims Stock Holdings in Bentley Systems, Incorporated $BSY

Invesco Ltd. lowered its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 81.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 365,497 shares of the company’s stock after selling 1,655,233 shares during the period. Invesco Ltd. owned about 0.12% of Bentley Systems worth $14,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BSY. Dimensional Fund Advisors LP boosted its holdings in Bentley Systems by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 871,594 shares of the company’s stock valued at $40,711,000 after purchasing an additional 90,860 shares during the last quarter. MML Investors Services LLC increased its holdings in Bentley Systems by 4.0% in the fourth quarter. MML Investors Services LLC now owns 28,065 shares of the company’s stock valued at $1,311,000 after buying an additional 1,074 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Bentley Systems by 568.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,268 shares of the company’s stock valued at $339,000 after buying an additional 6,181 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Bentley Systems by 39.7% in the fourth quarter. Hsbc Holdings PLC now owns 55,623 shares of the company’s stock valued at $2,601,000 after buying an additional 15,807 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Bentley Systems by 50.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 15,000 shares of the company’s stock valued at $700,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other Bentley Systems news, Director Raymond B. Bentley sold 355,103 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the transaction, the director owned 15,992,321 shares in the company, valued at approximately $798,976,357.16. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the transaction, the director owned 3,859,327 shares of the company’s stock, valued at approximately $214,347,021.58. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,189,869 shares of company stock worth $60,880,388. Insiders own 20.56% of the company’s stock.

Bentley Systems Trading Up 2.3%

NASDAQ:BSY opened at $54.65 on Friday. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The firm has a market capitalization of $15.96 billion, a P/E ratio of 69.18, a P/E/G ratio of 4.31 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. The business has a 50 day simple moving average of $54.96 and a 200 day simple moving average of $48.13.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BSY. Royal Bank Of Canada boosted their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. UBS Group boosted their price objective on Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Oppenheimer boosted their price objective on Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Rosenblatt Securities lowered Bentley Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Finally, The Goldman Sachs Group boosted their price objective on Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and an average target price of $56.60.

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.