Victory Capital Management Inc. Has $2.43 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Posted by Defense World Staff on May 30th, 2023

Victory Capital Management Inc. increased its stake in Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,137 shares of the company’s stock after purchasing an additional 580 shares during the period. Victory Capital Management Inc.’s holdings in Bentley Systems were worth $2,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSY. Vanguard Group Inc. boosted its stake in shares of Bentley Systems by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 19,845,069 shares of the company’s stock worth $607,061,000 after buying an additional 353,032 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Bentley Systems by 3.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,061,158 shares of the company’s stock worth $368,951,000 after buying an additional 353,739 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Bentley Systems by 11.6% during the 3rd quarter. Brown Advisory Inc. now owns 1,355,898 shares of the company’s stock worth $41,477,000 after buying an additional 140,577 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Bentley Systems by 1.5% during the 2nd quarter. Northern Trust Corp now owns 1,000,735 shares of the company’s stock worth $33,324,000 after buying an additional 14,799 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Bentley Systems by 4.2% during the 4th quarter. Raymond James & Associates now owns 979,855 shares of the company’s stock worth $36,215,000 after buying an additional 39,355 shares during the last quarter. 36.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of 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 report on Thursday, May 11th. Mizuho upped their target price on shares of Bentley Systems from $45.00 to $51.00 in a report on Wednesday, May 10th. Oppenheimer upped their target price 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. Robert W. Baird upped their target price on shares of Bentley Systems from $48.00 to $50.00 in a report on Wednesday, May 10th. Finally, Royal Bank of Canada upped their target price on shares of Bentley Systems from $47.00 to $53.00 in a report on Wednesday, May 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.78.

Insider Activity

In other news, COO Nicholas Cumins sold 28,000 shares of Bentley Systems stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $46.01, for a total value of $1,288,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,417 shares in the company, valued at $7,518,816.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Bentley Systems news, CEO Gregory S. Bentley sold 129,691 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $45.59, for a total transaction of $5,912,612.69. Following the completion of the transaction, the chief executive officer now directly owns 8,136,962 shares in the company, valued at $370,964,097.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Nicholas Cumins sold 28,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $46.01, for a total transaction of $1,288,280.00. Following the transaction, the chief operating officer now owns 163,417 shares of the company’s stock, valued at $7,518,816.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,698 shares of company stock worth $13,083,953. Corporate insiders own 22.53% of the company’s stock.

Bentley Systems Trading Up 0.7 %

Shares of BSY stock opened at $47.82 on Tuesday. The firm has a 50 day moving average price of $43.41 and a two-hundred day moving average price of $40.52. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $13.47 billion, a PE ratio of 93.77, a price-to-earnings-growth ratio of 8.63 and a beta of 1.20. Bentley Systems, Incorporated has a 12-month low of $30.33 and a 12-month high of $48.29.

Bentley Systems (NASDAQ:BSY – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Bentley Systems had a net margin of 14.40% and a return on equity of 38.40%. The firm had revenue of $287.00 million during the quarter, compared to the consensus estimate of $280.85 million. During the same period last year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts predict that Bentley Systems, Incorporated will post 0.67 earnings per share for the current year.

About Bentley Systems

(Get Rating)

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.