302,504 Shares in Bentley Systems, Incorporated $BSY Acquired by Nuveen LLC

Key Points

• Nuveen LLC has made a new investment of approximately $11.90 million in Bentley Systems, acquiring 302,504 shares and holding about 0.10% of the company.
• Recent insider sales include Director Keith A. Bentley selling 150,000 shares for over $8.33 million, which lowered his ownership by 3.74%.
• Bentley Systems reported $364.11 million in revenue for the recent quarter, a 10.2% year-over-year increase, along with an EPS of $0.32, exceeding estimates.

Nuveen LLC purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 302,504 shares of the company's stock, valued at approximately $11,901,000. Nuveen LLC owned about 0.10% of Bentley Systems as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Bentley Systems by 8,187,760.9% in the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after buying an additional 1,883,185 shares during the period. AXA S.A. increased its stake in shares of Bentley Systems by 7.6% in the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company's stock valued at $74,867,000 after buying an additional 112,824 shares during the period. Northern Trust Corp raised its holdings in Bentley Systems by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company's stock valued at $67,204,000 after buying an additional 228,502 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Bentley Systems by 11.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 871,594 shares of the company's stock worth $40,711,000 after buying an additional 90,860 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Oppenheimer raised their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Piper Sandler upped their price target on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Robert W. Baird set a $64.00 price target on shares of Bentley Systems and gave the stock an "outperform" rating in a report on Wednesday, July 30th. The Goldman Sachs Group upped their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. Finally, UBS Group lifted their price objective on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $56.60.

Bentley Systems Stock Up 1.8%

Shares of Bentley Systems stock traded up $0.98 on Wednesday, hitting $54.77. The company had a trading volume of 1,547,505 shares, compared to its average volume of 1,829,503. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 69.33, a P/E/G ratio of 4.34 and a beta of 1.10. The stock has a 50 day moving average of $55.19 and a 200-day moving average of $48.29. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate 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 company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 122,114 shares of the business's stock in a transaction 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 sale, the director directly owned 15,347,424 shares in the company, valued at approximately $778,114,396.80. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the company'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 sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 1,189,869 shares of company stock worth $60,880,388. Company insiders own 20.56% of the company's stock.

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.