Bentley Systems, Incorporated $BSY Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its holdings in Bentley Systems, Incorporated, purchasing 64,753 additional shares, bringing its total stake to 65,354 shares valued at approximately $2.57 million.
• Several institutional investors have also made notable investments, with Bessemer Group Inc. increasing its stake by over 8 million percent, now owning nearly 1.88 million shares worth $74 million.
• Bentley Systems' stock received varying ratings from analysts, with six analysts giving a "Buy" rating, three a "Hold," and one a "Sell," while the average target price is set at $56.60.

AlphaQuest LLC lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 10,774.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 65,354 shares of the company's stock after acquiring an additional 64,753 shares during the period. AlphaQuest LLC's holdings in Bentley Systems were worth $2,571,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Fund Management S.A. bought a new stake in Bentley Systems in the first quarter worth $1,769,000. EntryPoint Capital LLC bought a new stake in Bentley Systems in the first quarter worth $210,000. Groupama Asset Managment lifted its stake in Bentley Systems by 17.2% in the first quarter. Groupama Asset Managment now owns 21,171 shares of the company's stock worth $840,000 after purchasing an additional 3,112 shares during the last quarter. Quantbot Technologies LP lifted its stake in Bentley Systems by 166.2% in the first quarter. Quantbot Technologies LP now owns 220,429 shares of the company's stock worth $8,672,000 after purchasing an additional 137,627 shares during the last quarter. Finally, Korea Investment CORP lifted its stake in Bentley Systems by 30.7% in the first quarter. Korea Investment CORP now owns 74,181 shares of the company's stock worth $2,918,000 after purchasing an additional 17,437 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BSY has been the subject of several recent research reports. KeyCorp boosted their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Piper Sandler boosted their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. The Goldman Sachs Group boosted their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, UBS Group boosted their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Six investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Trading Down 1.3%

Shares of NASDAQ BSY traded down $0.70 during midday trading on Monday, hitting $53.95. 1,170,693 shares of the company traded hands, compared to its average volume of 1,537,340. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a 50-day moving average price of $54.96 and a 200 day moving average price of $48.14. The firm has a market cap of $15.76 billion, a P/E ratio of 68.29, a P/E/G ratio of 4.41 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating 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 business had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same quarter last year, the firm earned $0.31 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 355,103 shares of Bentley Systems stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the transaction, the director directly owned 15,992,321 shares of the company's stock, valued at approximately $798,976,357.16. The trade was a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider directly owned 647,609 shares of the company's stock, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,189,869 shares of company stock worth $60,880,388 in the last 90 days. 20.56% of the stock is currently owned by insiders.

Bentley Systems Company 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.