Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,377 shares of the company's stock after selling 10,476 shares during the period. Gotham Asset Management LLC's holdings in Bentley Systems were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock worth $49,161,000 after acquiring an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Bentley Systems during the fourth quarter worth about $809,000. Principal Financial Group Inc. boosted its holdings in Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock valued at $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Bentley Systems by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock valued at $49,211,000 after buying an additional 97,950 shares during the period. Finally, Fiera Capital Corp raised its position in shares of Bentley Systems by 13.2% during the 4th quarter. Fiera Capital Corp now owns 953,246 shares of the company's stock valued at $44,517,000 after buying an additional 111,433 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CRO Brock Ballard sold 12,363 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the sale, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BSY. The Goldman Sachs Group cut Bentley Systems from a "neutral" rating to a "sell" rating and cut their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Mizuho cut their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Rosenblatt Securities decreased their target price on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Royal Bank of Canada increased their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bentley Systems presently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Bentley Systems Stock Up 0.3%

Shares of NASDAQ BSY traded up $0.16 during midday trading on Thursday, hitting $47.47. The company's stock had a trading volume of 141,656 shares, compared to its average volume of 1,213,502. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 42.76, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. The business's fifty day simple moving average is $43.19 and its two-hundred day simple moving average is $45.53. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $53.71.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.05. The company had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. On average, equities 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.