Bentley Systems, Incorporated $BSY Holdings Cut by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its holdings in Bentley Systems by 81.9%, leaving it with 365,497 shares valued at approximately $14.4 million.
• A variety of institutional investors increased their stakes in Bentley Systems during the fourth quarter, with Dimensional Fund Advisors LP increasing its holdings by 11.6% to own 871,594 shares.
• Insider selling activity includes Director Raymond B. Bentley offloading 355,103 shares for about $17.74 million, leading to a 2.17% decrease in his total ownership.

Invesco Ltd. reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 81.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,497 shares of the company's stock after selling 1,655,233 shares during the period. Invesco Ltd. owned approximately 0.12% of Bentley Systems worth $14,379,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BSY. City Holding Co. acquired a new stake in shares of Bentley Systems during the first quarter valued at about $26,000. Larson Financial Group LLC grew its stake in shares of Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after acquiring an additional 717 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after acquiring an additional 435 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Bentley Systems during the first quarter valued at about $45,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after acquiring an additional 706 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Up 0.4%

Shares of BSY stock traded up $0.22 during trading hours on Thursday, hitting $54.99. 1,472,957 shares of the company were exchanged, compared to its average volume of 1,785,067. 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 one year low of $36.51 and a one year high of $59.25. The business's 50-day simple moving average is $55.27 and its two-hundred day simple moving average is $48.34. The stock has a market capitalization of $16.06 billion, a price-to-earnings 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 results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million for the quarter, compared to analysts' expectations of $363.51 million. During the same quarter last year, the company posted $0.31 earnings per share. The company's quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the transaction, the insider owned 647,609 shares of the company's stock, valued at $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $8,331,000.00. Following the completion of the transaction, the director directly owned 3,859,327 shares in the company, valued at $214,347,021.58. This represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,189,869 shares of company stock valued at $60,880,388 over the last quarter. Insiders own 20.56% of the company's stock.

Wall Street Analysts Forecast Growth

BSY has been the subject of several recent analyst reports. Rosenblatt Securities downgraded Bentley Systems from a "buy" rating to a "neutral" rating and raised their target price for the company from $53.00 to $58.00 in a research note on Thursday, August 7th. KeyCorp raised their target price on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Robert W. Baird set a $64.00 target price on Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their target price on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Oppenheimer raised their target price on Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.60.

Bentley Systems 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.