Bentley Systems, Incorporated (NASDAQ:BSY) Position Reduced by Swiss National Bank

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 5.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 787,400 shares of the company’s stock after selling 49,700 shares during the quarter. Swiss National Bank owned approximately 0.28% of Bentley Systems worth $29,102,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. CWM LLC lifted its position in Bentley Systems by 67.3% in the 3rd quarter. CWM LLC now owns 885 shares of the company’s stock valued at $27,000 after purchasing an additional 356 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Bentley Systems during the 3rd quarter valued at about $30,000. Geneos Wealth Management Inc. acquired a new position in Bentley Systems during the 4th quarter valued at about $37,000. Pacer Advisors Inc. increased its stake in Bentley Systems by 42.3% during the 4th quarter. Pacer Advisors Inc. now owns 1,106 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in shares of Bentley Systems in the 3rd quarter worth approximately $43,000. 36.12% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Gregory S. Bentley sold 45,723 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $42.15, for a total value of $1,927,224.45. Following the completion of the transaction, the chief executive officer now owns 8,228,960 shares in the company, valued at approximately $346,850,664. The sale was disclosed in a filing with the SEC, which is available at this link. In other Bentley Systems news, Director Kirk B. Griswold sold 35,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $42.98, for a total value of $1,504,300.00. Following the completion of the sale, the director now owns 476,017 shares in the company, valued at approximately $20,459,210.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory S. Bentley sold 45,723 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $42.15, for a total transaction of $1,927,224.45. Following the completion of the transaction, the chief executive officer now directly owns 8,228,960 shares in the company, valued at approximately $346,850,664. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,007 shares of company stock worth $5,883,060. 21.74% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BSY shares. Royal Bank of Canada lifted their price objective on shares of Bentley Systems from $47.00 to $53.00 in a research note on Wednesday. Robert W. Baird lifted their target price on shares of Bentley Systems from $48.00 to $50.00 in a research report on Wednesday. Griffin Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday. Mizuho lifted their target price on shares of Bentley Systems from $45.00 to $51.00 in a research report on Wednesday. Finally, KeyCorp raised their price target on shares of Bentley Systems from $47.00 to $53.00 in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus target price of $50.78.

Bentley Systems Stock Down 1.5 %

Bentley Systems stock opened at $45.22 on Friday. The firm’s fifty day simple moving average is $41.92 and its 200-day simple moving average is $39.45. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 3.10. Bentley Systems, Incorporated has a 1-year low of $27.12 and a 1-year high of $46.97. The company has a market capitalization of $13.13 billion, a P/E ratio of 88.67, a P/E/G ratio of 7.92 and a beta of 1.20.

Bentley Systems (NASDAQ:BSY – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $287.00 million during the quarter, compared to analysts’ expectations of $280.85 million. Bentley Systems had a net margin of 15.90% and a return on equity of 41.48%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.65 earnings per share for the current fiscal year.

Bentley Systems Company 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.