Kayne Anderson Rudnick Investment Management LLC Purchases 160,496 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Kayne Anderson Rudnick Investment Management LLC now holds 16,167,441 shares of Bentley Systems (NASDAQ: BSY), valued at approximately $636 million, after increasing its position by 1.0% in the first quarter.
• Bentley Systems reported a 10.2% revenue increase year-over-year with earnings of $0.32 per share, exceeding analysts' expectations of $0.29 per share.
• Academic research analysts have mixed views on Bentley Systems, with ratings ranging from "Buy" to "Sell," and an average target price of $56.60 for the stock.

Kayne Anderson Rudnick Investment Management LLC increased its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,167,441 shares of the company's stock after purchasing an additional 160,496 shares during the quarter. Bentley Systems accounts for 1.6% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 12th largest position. Kayne Anderson Rudnick Investment Management LLC owned 5.54% of Bentley Systems worth $636,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. City Holding Co. acquired a new stake in Bentley Systems in the first quarter valued at $26,000. Larson Financial Group LLC raised its holdings in Bentley Systems by 1,707.1% in 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 raised its holdings in Bentley Systems by 106.6% in 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 Bentley Systems in the first quarter valued at $45,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Bentley Systems by 99.0% in 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 hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider David R. Shaman sold 19,348 shares of the stock in a transaction that occurred 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 owned 647,609 shares in the company, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raymond B. Bentley sold 355,103 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the transaction, the director owned 15,992,321 shares in the company, valued at $798,976,357.16. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,189,869 shares of company stock worth $60,880,388. Insiders own 20.56% of the company's stock.

Wall Street Analyst Weigh In

BSY has been the subject of several recent research reports. Oppenheimer upped their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada increased their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group upped their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday, August 7th. 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. Finally, Wall Street Zen lowered shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.60.

Bentley Systems Stock Up 0.4%

NASDAQ:BSY traded up $0.22 during mid-day trading on Thursday, reaching $54.99. The stock had a trading volume of 1,472,957 shares, compared to its average volume of 1,546,938. The business's 50 day moving average is $55.19 and its 200 day moving average is $48.29. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The stock has a market cap of $16.06 billion, a P/E ratio of 69.61, a PEG ratio of 4.34 and a beta of 1.10. 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 (NASDAQ:BSY - Get Free Report) last released 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. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The firm had revenue of $364.11 million for the quarter, compared to the consensus estimate of $363.51 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

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.