Magnetar Financial LLC Takes Position in Bentley Systems, Incorporated $BSY

Key Points

• Magnetar Financial LLC has acquired 11,023 shares of Bentley Systems, valued at approximately $434,000, during the first quarter, indicating growing institutional interest.
• Insider activity reveals significant stock sales, with Directors Keith A. Bentley and Raymond B. Bentley selling 150,000 and 122,114 shares respectively, totaling over $14 million in sales.
• Rosenblatt Securities downgraded Bentley Systems from a "buy" to a "neutral" rating, while various analysts set target prices ranging from $55.00 to $64.00, reflecting mixed sentiments about the stock's future performance.

Magnetar Financial LLC acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,023 shares of the company's stock, valued at approximately $434,000.

A number of other hedge funds have also made changes to their positions in the stock. Axxcess Wealth Management LLC increased its holdings in shares of Bentley Systems by 3.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock valued at $333,000 after acquiring an additional 301 shares during the last quarter. Prentiss Smith & Co. Inc. increased its holdings in shares of Bentley Systems by 0.5% during the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after acquiring an additional 315 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Bentley Systems by 3.5% during the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock valued at $371,000 after acquiring an additional 315 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Bentley Systems by 7.2% during the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock valued at $246,000 after acquiring an additional 354 shares during the last quarter. Finally, Wealth Alliance LLC increased its holdings in shares of Bentley Systems by 5.0% during the 1st quarter. Wealth Alliance LLC now owns 7,951 shares of the company's stock valued at $313,000 after acquiring an additional 380 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Buying and Selling at Bentley Systems

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

Bentley Systems Trading Up 0.1%

Shares of NASDAQ BSY traded up $0.06 during midday trading on Friday, hitting $53.80. The stock had a trading volume of 1,499,356 shares, compared to its average volume of 1,588,469. The company's 50-day simple moving average is $55.55 and its 200 day simple moving average is $48.65. The firm has a market cap of $15.71 billion, a P/E ratio of 68.10, a price-to-earnings-growth ratio of 4.34 and a beta of 1.09. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $364.11 million during the quarter, compared to analysts' expectations of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. Research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Analysts Set New Price Targets

BSY has been the topic of a number of research analyst reports. UBS Group raised their target price on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Robert W. Baird set a $64.00 target price on Bentley Systems and gave the company an "outperform" rating in a report on Wednesday, July 30th. Oppenheimer raised their target price 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 downgraded Bentley Systems from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group raised their price objective on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a research report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.