Trexquant Investment LP Takes $1.87 Million Position in Bentley Systems, Incorporated $BSY

Key Points

• Trexquant Investment LP acquired 47,582 shares of Bentley Systems, valued at approximately $1.87 million, highlighting increased institutional interest in the company's stock.
• Bentley Systems reported a 10.2% increase in quarterly revenue year-over-year, with earnings per share of $0.32, exceeding analysts' estimates.
• Analysts have mixed ratings on Bentley Systems, with a consensus target price of $56.60 and varying outlooks from "Buy" to "Sell."

Trexquant Investment LP acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 47,582 shares of the company's stock, valued at approximately $1,872,000.

Several other hedge funds also recently bought and sold shares of BSY. Bessemer Group Inc. boosted its holdings in Bentley Systems by 8,187,760.9% in the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock worth $74,086,000 after buying an additional 1,883,185 shares during the period. Vanguard Group Inc. boosted its holdings in Bentley Systems by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock worth $708,114,000 after buying an additional 898,115 shares during the period. Federated Hermes Inc. bought a new position in Bentley Systems in the 1st quarter worth $15,960,000. Sone Capital Management LLC bought a new position in Bentley Systems in the 4th quarter worth $17,884,000. Finally, SG Americas Securities LLC boosted its holdings in Bentley Systems by 449.7% in the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock worth $15,118,000 after buying an additional 314,387 shares during the period. Institutional investors own 44.16% of the company's stock.

Bentley Systems Price Performance

BSY stock traded down $0.86 during mid-day trading on Wednesday, hitting $52.65. The company had a trading volume of 1,261,160 shares, compared to its average volume of 1,563,699. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 66.65, a P/E/G ratio of 4.32 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 company has a 50-day moving average price of $55.52 and a 200 day moving average price of $48.80.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on BSY shares. Oppenheimer upped their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Rosenblatt Securities downgraded shares of Bentley Systems from a "buy" rating to a "neutral" rating and upped their target price for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. The Goldman Sachs Group upped their target price on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a report on Thursday, August 7th. Piper Sandler upped their target price on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.60.

Insider Activity

In other news, Director Raymond B. Bentley sold 122,114 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares in the company, valued at approximately $778,114,396.80. This represents a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director owned 3,859,327 shares in the company, valued at $214,347,021.58. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,189,869 shares of company stock worth $60,880,388. 20.56% of the stock is currently owned by corporate insiders.

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.