Quantbot Technologies LP Boosts Stake in Bentley Systems, Incorporated $BSY

Key Points

• Quantbot Technologies LP increased its position in Bentley Systems by 166.2% in Q1, holding 220,429 shares valued at $8.67 million as of its latest SEC filing.
• Insider transactions included Director Raymond B. Bentley selling 355,103 shares for approximately $17.74 million, resulting in a 2.17% decrease in ownership.
• Bentley Systems reported $0.32 earnings per share, surpassing estimates, and experienced a 10.2% revenue increase compared to last year, highlighting positive financial momentum.

Quantbot Technologies LP grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 166.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,429 shares of the company's stock after acquiring an additional 137,627 shares during the period. Quantbot Technologies LP owned about 0.07% of Bentley Systems worth $8,672,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. City Holding Co. purchased a new stake in shares of Bentley Systems in the 1st quarter valued at $26,000. Larson Financial Group LLC boosted its holdings in shares of Bentley Systems by 1,707.1% in the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after acquiring an additional 717 shares during the last quarter. Fifth Third Bancorp boosted its holdings in 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 buying an additional 435 shares in the last quarter. HM Payson & Co. purchased a new stake in Bentley Systems during the first quarter worth $45,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 buying an additional 706 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Price Performance

BSY traded up $1.24 during midday trading on Friday, hitting $54.65. 1,495,230 shares of the company traded hands, compared to its average volume of 1,539,631. 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 company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 69.18, a PEG ratio of 4.33 and a beta of 1.10. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The business has a 50 day simple moving average of $54.85 and a two-hundred day simple moving average of $48.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $364.11 million for the quarter, compared to the consensus estimate 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 was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BSY shares. UBS Group increased their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Oppenheimer increased their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. KeyCorp increased their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Royal Bank Of Canada increased their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.60.

Insider Buying and Selling at Bentley Systems

In other news, Director Raymond B. Bentley sold 355,103 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.96, for a total value of $17,740,945.88. Following the transaction, the director directly owned 15,992,321 shares of the company's stock, valued at approximately $798,976,357.16. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,189,869 shares of company stock valued at $60,880,388 over the last ninety days. Corporate insiders own 20.56% of the company's stock.

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.