Thematics Asset Management Has $20.91 Million Holdings in Bentley Systems, Incorporated $BSY

Key Points

• Thematics Asset Management increased its stake in Bentley Systems by 12.4% during the first quarter, owning approximately 531,483 shares valued at $20.9 million.
• Analysts have set an average target price of $56.60 for Bentley Systems, with six analysts rating it as a "Buy" and three as a "Hold".
• Bentley Systems reported earnings of $0.32 per share for the recent quarter, surpassing estimates and showing a 10.2% revenue growth year-over-year.

Thematics Asset Management lifted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 531,483 shares of the company's stock after purchasing an additional 58,503 shares during the quarter. Thematics Asset Management owned 0.18% of Bentley Systems worth $20,909,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Bentley Systems by 1.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company's stock worth $636,027,000 after purchasing an additional 160,496 shares in the last quarter. Bessemer Group Inc. raised its holdings in Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock worth $74,086,000 after purchasing an additional 1,883,185 shares in the last quarter. AXA S.A. raised its holdings in Bentley Systems by 7.6% during the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company's stock worth $74,867,000 after purchasing an additional 112,824 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Bentley Systems by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,439,065 shares of the company's stock worth $67,204,000 after acquiring an additional 228,502 shares during the period. Institutional investors own 44.16% of the company's stock.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 355,103 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the sale, the director directly owned 15,992,321 shares in the company, valued at approximately $798,976,357.16. This trade represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Keith A. Bentley sold 150,000 shares of the firm'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 owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,189,869 shares of company stock worth $60,880,388 in the last quarter. 20.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BSY. UBS Group lifted their target price on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Oppenheimer lifted their target price on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Robert W. Baird set a $64.00 target price on Bentley Systems and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. Finally, The Goldman Sachs Group lifted their target price on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Trading Up 1.8%

Shares of NASDAQ:BSY traded up $0.98 during midday trading on Wednesday, reaching $54.77. The company had a trading volume of 1,547,505 shares, compared to its average volume of 1,829,503. 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, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The firm has a market cap of $16.00 billion, a price-to-earnings ratio of 56.62, a price-to-earnings-growth ratio of 4.34 and a beta of 1.10. The company has a fifty day simple moving average of $55.10 and a two-hundred day simple moving average of $48.24.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly 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 return on equity of 28.41% and a net margin of 17.91%.The business had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. During the same quarter last year, the company posted $0.31 EPS. Bentley Systems's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

About Bentley Systems

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.