Bentley Systems, Incorporated (NASDAQ:BSY – Get Free Report) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 7,580,000 shares, a drop of 9.0% from the June 30th total of 8,330,000 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is presently 5.6 days.
Bentley Systems Trading Down 2.3 %
Shares of NASDAQ:BSY traded down $1.14 during trading on Thursday, reaching $47.60. 710,042 shares of the company traded hands, compared to its average volume of 1,309,624. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 44.09, a P/E/G ratio of 4.23 and a beta of 1.03. Bentley Systems has a 52-week low of $44.76 and a 52-week high of $57.19. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. The business’s fifty day moving average is $50.02 and its 200-day moving average is $51.01.
Bentley Systems (NASDAQ:BSY – Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $337.76 million during the quarter, compared to analyst estimates of $335.00 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. As a group, analysts forecast that Bentley Systems will post 0.85 EPS for the current year.
Bentley Systems Dividend Announcement
Insider Activity
In related news, Director Keith A. Bentley sold 59,420 shares of Bentley Systems stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the sale, the director now directly owns 16,972,383 shares in the company, valued at approximately $933,650,788.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Keith A. Bentley sold 118,949 shares of Bentley Systems stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 59,420 shares of Bentley Systems stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the completion of the sale, the director now owns 16,972,383 shares of the company’s stock, valued at approximately $933,650,788.83. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by corporate insiders.
Institutional Trading of Bentley Systems
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSY. CIBC Asset Management Inc raised its holdings in Bentley Systems by 25.4% in the second quarter. CIBC Asset Management Inc now owns 8,825 shares of the company’s stock worth $436,000 after purchasing an additional 1,787 shares in the last quarter. GraniteShares Advisors LLC bought a new position in Bentley Systems in the second quarter worth $443,000. WR Wealth Planners LLC raised its holdings in Bentley Systems by 4.5% in the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after purchasing an additional 275 shares in the last quarter. nVerses Capital LLC raised its holdings in Bentley Systems by 1,800.0% in the second quarter. nVerses Capital LLC now owns 1,900 shares of the company’s stock worth $94,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its holdings in Bentley Systems by 22.9% in the second quarter. Mizuho Markets Americas LLC now owns 520,684 shares of the company’s stock worth $25,701,000 after purchasing an additional 97,000 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.
Analyst Upgrades and Downgrades
BSY has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Bentley Systems in a report on Tuesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective (up from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Finally, Mizuho lifted their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.
Read Our Latest Stock Report on BSY
Bentley Systems Company 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.
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