Capital Fund Management S.A. Invests $1.77 Million in Bentley Systems, Incorporated $BSY

Key Points

• Capital Fund Management S.A. has invested approximately $1.77 million in Bentley Systems by acquiring 44,979 shares in the first quarter.
• Insider transactions revealed that Director Raymond B. Bentley and Director Keith A. Bentley sold substantial amounts of stock, indicating a combined sale worth over $26 million.
• Recent analysts' reports show a range of price targets for Bentley Systems, with UBS Group raising their target to $60.00 while Rosenblatt Securities and KeyCorp also adjusted their ratings and targets accordingly.

Capital Fund Management S.A. acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 44,979 shares of the company's stock, valued at approximately $1,769,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. City Holding Co. purchased a new stake in Bentley Systems in the first quarter worth approximately $26,000. Larson Financial Group LLC boosted its stake in Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock worth $30,000 after buying an additional 717 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 435 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of Bentley Systems in the 1st quarter valued at $45,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Bentley Systems by 99.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after purchasing an additional 706 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Up 0.4%

BSY traded up $0.22 on Thursday, hitting $54.99. The company had a trading volume of 1,472,957 shares, compared to its average volume of 1,785,067. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The stock has a fifty day simple moving average of $55.27 and a 200-day simple moving average of $48.34. The firm has a market capitalization of $16.06 billion, a P/E ratio of 69.61, a P/E/G ratio of 4.42 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. Bentley Systems's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. As a group, equities analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BSY shares. UBS Group upped their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. KeyCorp upped their price target 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. Piper Sandler upped their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Robert W. Baird set a $64.00 target price on Bentley Systems and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen cut Bentley Systems from a "buy" rating to a "hold" rating in a report 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $56.60.

Insider Buying and Selling at Bentley Systems

In other news, insider David R. Shaman sold 19,348 shares of Bentley Systems stock in a transaction that occurred on 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 transaction, the insider directly owned 647,609 shares in the company, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,189,869 shares of company stock valued at $60,880,388. 20.56% of the stock is currently owned by company 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.