Korea Investment CORP Increases Stake in Bentley Systems, Incorporated $BSY

Key Points

• Korea Investment CORP increased its holdings in Bentley Systems, Incorporated by 30.7%, holding a total of 74,181 shares worth approximately $2.9 million as of its latest SEC filing.
• Several analysts have recently revised their ratings on Bentley Systems, with a consensus rating of "Moderate Buy" and an average price target of $56.60.
• Bentley Systems reported earnings of $0.32 per share, exceeding analyst estimates, and revenue of $364.11 million, marking a 10.2% increase from the prior year.

Korea Investment CORP boosted its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,181 shares of the company's stock after purchasing an additional 17,437 shares during the quarter. Korea Investment CORP's holdings in Bentley Systems were worth $2,918,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Axxcess Wealth Management LLC lifted its stake in Bentley Systems by 3.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock worth $333,000 after purchasing an additional 301 shares in the last quarter. Prentiss Smith & Co. Inc. lifted its stake in Bentley Systems by 0.5% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock worth $2,524,000 after purchasing an additional 315 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Bentley Systems by 3.5% in the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock worth $371,000 after purchasing an additional 315 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Bentley Systems by 7.2% in the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock worth $246,000 after purchasing an additional 354 shares in the last quarter. Finally, Wealth Alliance LLC lifted its stake in Bentley Systems by 5.0% in the 1st quarter. Wealth Alliance LLC now owns 7,951 shares of the company's stock worth $313,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on BSY. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. KeyCorp lifted their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Oppenheimer lifted their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. UBS Group lifted their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Rosenblatt Securities cut shares of Bentley Systems from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $53.00 to $58.00 in a research note on Thursday, August 7th. Six equities 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Trading Up 0.4%

Shares of BSY traded up $0.21 during trading hours on Thursday, reaching $54.98. 902,176 shares of the company traded hands, compared to its average volume of 1,543,075. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 69.62, a PEG ratio of 4.34 and a beta of 1.10. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The stock's fifty day moving average price is $55.19 and its 200 day moving average price is $48.29.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 net margin of 17.91% and a return on equity of 28.41%. The business's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

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

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.