Great Lakes Advisors LLC Buys Shares of 5,170 Bentley Systems, Incorporated (NASDAQ:BSY)

Great Lakes Advisors LLC purchased a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,170 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Bentley Systems during the fourth quarter valued at about $6,382,000. Handelsbanken Fonder AB lifted its position in Bentley Systems by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock worth $41,426,000 after purchasing an additional 38,120 shares during the period. Raymond James & Associates boosted its stake in Bentley Systems by 2.8% during the 4th quarter. Raymond James & Associates now owns 1,119,244 shares of the company’s stock valued at $58,402,000 after purchasing an additional 30,143 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Bentley Systems by 70.0% during the 3rd quarter. Victory Capital Management Inc. now owns 159,748 shares of the company’s stock valued at $8,013,000 after purchasing an additional 65,780 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Bentley Systems by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock worth $1,091,604,000 after buying an additional 556,363 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Down 6.1 %

Bentley Systems stock opened at $53.25 on Thursday. Bentley Systems, Incorporated has a 52 week low of $44.76 and a 52 week high of $57.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 49.77, a P/E/G ratio of 5.04 and a beta of 1.08. The company has a 50 day moving average price of $52.19 and a 200 day moving average price of $51.39.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $310.64 million during the quarter, compared to analysts’ expectations of $313.67 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. Bentley Systems’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Research analysts forecast that Bentley Systems, Incorporated will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BSY. Mizuho raised their target price on Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price objective (up previously from $60.00) on shares of Bentley Systems in a research note on Wednesday, May 8th. Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, William Blair initiated coverage on Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.29.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 118,949 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total value of $6,543,384.49. Following the transaction, the director now owns 17,031,803 shares in the company, valued at approximately $936,919,483.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the transaction, the director now owns 17,031,803 shares in the company, valued at approximately $936,919,483.03. The disclosure for this sale can be found here. Insiders have sold a total of 284,315 shares of company stock valued at $15,148,243 in the last 90 days. 21.12% of the stock is currently owned by corporate insiders.

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.