Groupe la Francaise Acquires 50,412 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Groupe la Francaise increased its Bentley Systems stake by 46.1% in the second quarter, purchasing 50,412 additional shares and bringing its holdings to 159,678 shares valued at approximately $4.8 million.
• Analysts maintain a generally positive view of Bentley Systems, with a consensus rating of “Moderate Buy” and an average price target of $45.00; individual targets range from $40 to $50.
• Bentley Systems exceeded quarterly EPS expectations, reporting $0.35 versus the $0.32 consensus estimate, while revenue rose 12.8% year over year to $410.73 million.

Groupe la Francaise grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 46.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,678 shares of the company's stock after buying an additional 50,412 shares during the quarter. Groupe la Francaise owned 0.05% of Bentley Systems worth $4,776,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after acquiring an additional 627 shares during the period. Invesco Ltd. raised its position in Bentley Systems by 2.6% in the second quarter. Invesco Ltd. now owns 375,054 shares of the company's stock worth $20,242,000 after purchasing an additional 9,557 shares in the last quarter. First Trust Advisors LP lifted its stake in Bentley Systems by 97.5% during the second quarter. First Trust Advisors LP now owns 160,644 shares of the company's stock worth $8,670,000 after purchasing an additional 79,286 shares during the period. Brown Advisory Inc. bought a new position in Bentley Systems during the second quarter worth about $212,000. Finally, Cresset Asset Management LLC acquired a new stake in Bentley Systems during the second quarter valued at approximately $248,000. 44.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BSY has been the topic of several analyst reports. BNP Paribas Exane began coverage on Bentley Systems in a research note on Thursday, June 18th. They issued an "outperform" rating and a $40.00 price objective on the stock. Bank of America started coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a "buy" rating and a $40.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $50.00 price target on shares of Bentley Systems in a research report on Monday, August 10th. Weiss Ratings upgraded Bentley Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. Finally, Zacks Research cut Bentley Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $33.71 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $9.80 billion, a P/E ratio of 37.04, a P/E/G ratio of 2.13 and a beta of 0.98. The firm has a 50 day simple moving average of $34.24 and a 200 day simple moving average of $34.02. Bentley Systems, Incorporated has a fifty-two week low of $28.08 and a fifty-two week high of $57.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The firm had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. During the same quarter in the prior year, the business earned $0.32 EPS. The business's revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts predict that Bentley Systems, Incorporated will post 1.19 earnings per share for the current fiscal year.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.

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