Groupe la Francaise Sells 17,931 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Groupe la Francaise reduced its stake in Bentley Systems by 31.8%, selling 17,931 shares and holding 38,485 shares valued at $1,553,000 after the sale.
• Multiple analysts have updated their price targets for Bentley Systems, with Goldman Sachs setting a new target of $47.00 and Piper Sandler raising theirs to $63.00, reflecting varied market outlooks.
• Insider trading activity has seen 1,189,869 shares sold over the last quarter, highlighting significant reductions in ownership by key individuals within the company.

Groupe la Francaise lessened its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 31.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,485 shares of the company's stock after selling 17,931 shares during the quarter. Groupe la Francaise's holdings in Bentley Systems were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. AlphaQuest LLC boosted its stake in Bentley Systems by 10,774.2% in the 1st quarter. AlphaQuest LLC now owns 65,354 shares of the company's stock valued at $2,571,000 after buying an additional 64,753 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Bentley Systems during the first quarter worth $1,769,000. EntryPoint Capital LLC bought a new stake in shares of Bentley Systems during the first quarter worth $210,000. Groupama Asset Managment raised its position in shares of Bentley Systems by 17.2% during the first quarter. Groupama Asset Managment now owns 21,171 shares of the company's stock worth $840,000 after acquiring an additional 3,112 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Bentley Systems by 166.2% in the first quarter. Quantbot Technologies LP now owns 220,429 shares of the company's stock valued at $8,672,000 after purchasing an additional 137,627 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction 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. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the transaction, the insider directly owned 647,609 shares of the company's stock, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,189,869 shares of company stock valued at $60,880,388 in the last 90 days. 20.56% of the stock is owned by corporate insiders.

Bentley Systems Price Performance

Shares of BSY stock traded up $0.22 during trading hours on Thursday, reaching $54.99. The company's stock had a trading volume of 1,472,957 shares, compared to its average volume of 1,546,938. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 4.34 and a beta of 1.10. The firm's 50 day simple moving average is $55.19 and its 200-day simple moving average is $48.29.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share 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 company had revenue of $364.11 million for the quarter, compared to the consensus estimate of $363.51 million. During the same quarter last year, the business posted $0.31 EPS. Bentley Systems's revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BSY. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. The Goldman Sachs Group upped their price objective on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a research report on Thursday, August 7th. UBS Group upped their price objective on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and upped their price objective for the company from $53.00 to $58.00 in a research note on Thursday, August 7th. Six 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.60.

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.