Bentley Systems, Incorporated $BSY Stake Lowered by Prudential PLC

Key Points

• Prudential PLC significantly reduced its holdings in Bentley Systems, cutting its stake by 90.1% to 6,214 shares, valued at approximately $244,000.
• Insiders at Bentley Systems have sold over 1.1 million shares in the past 90 days, indicating a notable decrease in ownership among executives.
• Bentley Systems reported a quarterly earnings per share of $0.32, exceeding analyst estimates, and announced a quarterly dividend of $0.07 paid in June.

Prudential PLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 90.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,214 shares of the company's stock after selling 56,794 shares during the quarter. Prudential PLC's holdings in Bentley Systems were worth $244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. City Holding Co. acquired a new position in shares of Bentley Systems during the first quarter worth about $26,000. Larson Financial Group LLC increased its position in shares of Bentley Systems by 1,707.1% during 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 during the last quarter. Fifth Third Bancorp increased its position in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after acquiring an additional 435 shares during the last quarter. HM Payson & Co. purchased a new stake in shares of Bentley Systems during the first quarter worth about $45,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position 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 worth $56,000 after acquiring an additional 706 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. UBS Group lifted their target price on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. KeyCorp lifted their target price on Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Robert W. Baird set a $64.00 target price on Bentley Systems and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Six equities 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Insider Activity at Bentley Systems

In other news, Director Keith A. Bentley sold 150,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the transaction, the director directly owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David R. Shaman sold 19,348 shares of the company's stock in a transaction that occurred 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 directly owned 647,609 shares of the company's stock, valued at $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,189,869 shares of company stock valued at $60,880,388 over the last three months. 20.56% of the stock is owned by insiders.

Bentley Systems Stock Up 2.2%

Bentley Systems stock traded up $1.16 during midday trading on Friday, hitting $54.57. The stock had a trading volume of 354,092 shares, compared to its average volume of 1,532,144. 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 has a market cap of $15.94 billion, a P/E ratio of 69.02, a P/E/G ratio of 4.33 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 business has a fifty day moving average price of $54.85 and a 200 day moving average price of $48.07.

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

About Bentley Systems

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.