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

Key Points

• Krilogy Financial LLC recently purchased 12,379 shares of Bentley Systems, valued at approximately $668,000, marking a new investment position in the company.
• Analysts have mixed views on Bentley Systems, with target price upgrades from KeyCorp ($59) and Oppenheimer ($65), while Rosenblatt Securities downgraded the stock from "buy" to "neutral".
• Insiders have been selling shares, with Director Keith A. Bentley selling 150,000 shares for over $8.33 million, indicating a decrease in their stakes.

Krilogy Financial LLC purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,379 shares of the company's stock, valued at approximately $668,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock worth $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Bentley Systems by 1.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company's stock valued at $636,027,000 after purchasing an additional 160,496 shares during the period. Swedbank AB lifted its position in Bentley Systems by 1.6% in the first quarter. Swedbank AB now owns 7,119,208 shares of the company's stock valued at $280,070,000 after purchasing an additional 111,884 shares during the period. Bessemer Group Inc. lifted its position in shares of Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after acquiring an additional 1,883,185 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Bentley Systems by 2.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 895,213 shares of the company's stock valued at $35,218,000 after acquiring an additional 24,258 shares during the period. Hedge funds and other institutional investors own 44.16% of the company's stock.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of Bentley Systems stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the sale, the director owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the transaction, the insider directly owned 647,609 shares of the company's stock, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,869 shares of company stock valued at $10,564,887. 20.56% of the stock is owned by company insiders.

Bentley Systems Price Performance

NASDAQ:BSY traded down $0.13 during trading hours on Friday, reaching $52.82. 2,880,117 shares of the company's stock were exchanged, compared to its average volume of 1,543,060. The company has a market capitalization of $15.43 billion, a P/E ratio of 66.86, a price-to-earnings-growth ratio of 4.26 and a beta of 1.09. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. The business's 50-day simple moving average is $55.11 and its two-hundred day simple moving average is $49.14.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. During the same quarter last year, the business posted $0.31 EPS. The company's revenue was up 10.2% on a year-over-year basis. Sell-side analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Rosenblatt Securities downgraded Bentley Systems from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler upped their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. KeyCorp upped their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Wall Street Zen lowered shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Six equities 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 stock. According to MarketBeat.com, Bentley Systems presently has a consensus rating of "Moderate Buy" and a consensus 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.