National Bank of Canada FI Decreases Stock Holdings in Bentley Systems, Incorporated $BSY

Key Points

• National Bank of Canada FI significantly reduced its holdings in Bentley Systems by 99.1%, selling 74,185 shares, and now owns only 708 shares valued at $28,000.
• Analysts have generally positive sentiments for Bentley Systems, with six giving it a "Buy" rating and a consensus target price of $56.60.
• Bentley Systems reported a quarterly earnings per share (EPS) of $0.32, surpassing expectations and showing a 10.2% increase in revenue compared to the previous year.

National Bank of Canada FI decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 99.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708 shares of the company's stock after selling 74,185 shares during the period. National Bank of Canada FI's holdings in Bentley Systems were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. City Holding Co. bought a new position in Bentley Systems in the first quarter worth approximately $26,000. Larson Financial Group LLC boosted 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 worth $30,000 after acquiring an additional 717 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after acquiring an additional 435 shares in the last quarter. HM Payson & Co. bought a new position in Bentley Systems in the first quarter worth approximately $45,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 worth $56,000 after acquiring an additional 706 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Up 2.3%

Shares of Bentley Systems stock traded up $1.24 on Friday, hitting $54.65. The company had a trading volume of 1,495,230 shares, compared to its average volume of 1,693,067. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 69.18, a P/E/G ratio of 4.41 and a beta of 1.10. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The stock has a 50 day moving average of $54.96 and a 200-day moving average of $48.13. 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 (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BSY. Piper Sandler increased their price target on Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Oppenheimer increased their price target on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and increased their price target for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. Finally, UBS Group increased their price target on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $56.60.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 122,114 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the completion of the sale, the director directly owned 15,347,424 shares of the company's stock, valued at approximately $778,114,396.80. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director directly owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,189,869 shares of company stock valued at $60,880,388. 20.56% of the stock is owned by insiders.

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.