Worldquant Millennium Advisors LLC Has $6.68 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Worldquant Millennium Advisors LLC reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 19.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,984 shares of the company's stock after selling 34,703 shares during the period. Worldquant Millennium Advisors LLC's holdings in Bentley Systems were worth $6,677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock valued at $340,000 after buying an additional 254 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Bentley Systems by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock valued at $469,000 after acquiring an additional 317 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Bentley Systems by 7.2% during the fourth quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock valued at $246,000 after purchasing an additional 354 shares during the period. Prudential PLC grew its holdings in Bentley Systems by 0.6% during the fourth quarter. Prudential PLC now owns 63,008 shares of the company's stock valued at $2,942,000 after purchasing an additional 371 shares during the period. Finally, Private Trust Co. NA grew its holdings in Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after purchasing an additional 378 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. KeyCorp lifted their price target on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Royal Bank of Canada raised their price objective on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Rosenblatt Securities lowered their price target on Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Insiders Place Their Bets

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive now owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 20.56% of the company's stock.

Bentley Systems Stock Down 1.6%

BSY stock opened at $47.31 on Thursday. The stock has a market capitalization of $13.81 billion, a P/E ratio of 42.62, a P/E/G ratio of 3.52 and a beta of 1.05. The business has a 50-day moving average of $43.19 and a 200-day moving average of $45.53. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $53.71.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.05. The company had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal 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.

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