Charles Schwab Investment Management Inc. Sells 16,741 Shares of Bentley Systems, Incorporated $BSY

Charles Schwab Investment Management Inc. decreased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,035,963 shares of the company's stock after selling 16,741 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.34% of Bentley Systems worth $40,755,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BSY shares. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. 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. Rosenblatt Securities downgraded Bentley Systems from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $53.00 to $58.00 in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, KeyCorp boosted their price objective on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Stock Up 2.2%

Bentley Systems stock traded up $1.1640 during midday trading on Friday, reaching $54.5740. The stock had a trading volume of 261,523 shares, compared to its average volume of 1,530,933. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The company has a market capitalization of $15.94 billion, a P/E ratio of 69.11, a PEG ratio of 4.33 and a beta of 1.10. The company has a fifty day moving average price of $54.85 and a two-hundred day moving average price of $48.07. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

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 analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. As a group, equities analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bentley Systems news, Director Raymond B. Bentley sold 122,114 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the completion of the sale, the director directly owned 15,347,424 shares of the company's stock, valued at approximately $778,114,396.80. The trade was a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 150,000 shares of the business's stock in a transaction that occurred on 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 directly owned 3,859,327 shares of the company's stock, 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 ninety days, insiders sold 1,189,869 shares of company stock valued at $60,880,388. Corporate insiders own 20.56% of the company's stock.

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.