NFJ Investment Group LLC Sells 9,431 Shares of Bentley Systems, Incorporated $BSY

Key Points

• NFJ Investment Group LLC reduced its stake in Bentley Systems, Incorporated by 77.5%, holding 2,738 shares valued at approximately $108,000 after selling 9,431 shares.
• Several institutional investors are actively adjusting their positions, with Bessemer Group Inc. increasing its stake by an astronomical 8,187,760.9% during the same period, now holding nearly 1.88 million shares worth $74 million.
• Analysts have mixed opinions on Bentley Systems, with Piper Sandler setting a new target price of $63.00 while Goldman Sachs raised their target to $47.00, indicating a wide range of future estimates for the stock.

NFJ Investment Group LLC reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 77.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,738 shares of the company's stock after selling 9,431 shares during the period. NFJ Investment Group LLC's holdings in Bentley Systems were worth $108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Two Sigma Investments LP boosted its holdings in Bentley Systems by 42.3% in the fourth quarter. Two Sigma Investments LP now owns 42,700 shares of the company's stock valued at $1,994,000 after purchasing an additional 12,689 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Bentley Systems in the first quarter worth $920,000. Bright Rock Capital Management LLC purchased a new position in shares of Bentley Systems in the first quarter valued at $1,967,000. Mirae Asset Global Investments Co. Ltd. boosted 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 during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Bentley Systems by 8,187,760.9% in the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock worth $74,086,000 after buying an additional 1,883,185 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BSY shares. Piper Sandler lifted their price objective on Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a research report on Thursday, August 7th. Oppenheimer boosted their target price on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and upped their price target for the company from $53.00 to $58.00 in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $56.60.

Insider Activity at Bentley Systems

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

Bentley Systems Price Performance

BSY stock traded down $0.95 during midday trading on Friday, reaching $52.52. 207,169 shares of the company's stock traded hands, compared to its average volume of 1,542,727. The company has a 50-day simple moving average of $55.45 and a two-hundred day simple moving average of $48.85. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 66.46, a PEG ratio of 4.25 and a beta of 1.09. 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 (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating 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 analyst estimates of $363.51 million. During the same period last year, the company earned $0.31 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

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.