Gulf International Bank UK Ltd Sells 14,008 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Gulf International Bank UK Ltd significantly reduced its holdings in Bentley Systems by 63.4%, leaving it with 8,090 shares valued at $318,000.
• Bentley Systems reported earnings per share (EPS) of $0.32 for the last quarter, beating estimates and showing a 10.2% increase in revenue year-over-year.
• Analysts have mixed ratings on Bentley Systems, with one sell rating, four hold ratings, and six buy ratings, reflecting a current consensus of "Hold" with an average price target of $56.60.

Gulf International Bank UK Ltd reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 63.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,090 shares of the company's stock after selling 14,008 shares during the quarter. Gulf International Bank UK Ltd's holdings in Bentley Systems were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Bentley Systems in the first quarter worth approximately $334,000. Nuveen LLC acquired a new position in shares of Bentley Systems in the first quarter worth approximately $11,901,000. Entropy Technologies LP lifted its stake in Bentley Systems by 3.3% in the first quarter. Entropy Technologies LP now owns 19,085 shares of the company's stock valued at $751,000 after buying an additional 601 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Bentley Systems by 25.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132,778 shares of the company's stock valued at $5,223,000 after buying an additional 26,600 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new position in Bentley Systems in the first quarter valued at approximately $291,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider David R. Shaman sold 19,348 shares of the company'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 completion of the sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raymond B. Bentley sold 122,114 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $50.70, for a total value of $6,191,179.80. Following the sale, the director owned 15,347,424 shares of the company's stock, valued at $778,114,396.80. This trade represents a 0.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,189,869 shares of company stock worth $60,880,388. 20.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BSY has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price target on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler boosted their price target on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 price target on Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Oppenheimer boosted their price target on Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, UBS Group boosted their price target on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Stock Down 0.3%

Shares of NASDAQ BSY traded down $0.17 during midday trading on Thursday, hitting $53.44. 507,886 shares of the stock traded hands, compared to its average volume of 1,537,261. The company has a market cap of $15.61 billion, a PE ratio of 67.71, a P/E/G ratio of 4.31 and a beta of 1.10. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25. The business has a 50 day moving average price of $54.77 and a two-hundred day moving average price of $48.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51.

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

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.