Wellington Management Group LLP Acquires Shares of 233,354 Bentley Systems, Incorporated $BSY

Wellington Management Group LLP bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSYFree Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 233,354 shares of the company’s stock, valued at approximately $6,975,000.

A number of other hedge funds also recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in Bentley Systems in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. increased its holdings in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the period. Physician Wealth Advisors Inc. increased its holdings in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares during the period. CX Institutional raised its position in shares of Bentley Systems by 898.9% in the 2nd quarter. CX Institutional now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 845 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Bentley Systems during the 2nd quarter worth approximately $30,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $32.84 on Wednesday. The company’s 50 day moving average price is $34.30 and its two-hundred day moving average price is $34.01. The firm has a market capitalization of $9.54 billion, a P/E ratio of 36.09, a P/E/G ratio of 2.13 and a beta of 0.98. Bentley Systems, Incorporated has a fifty-two week low of $28.08 and a fifty-two week high of $57.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Bentley Systems (NASDAQ:BSYGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The company had revenue of $410.73 million during the quarter, compared to analysts’ expectations of $412.12 million. During the same period in the prior year, the company earned $0.32 EPS. Bentley Systems’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that Bentley Systems, Incorporated will post 1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on BSY shares. BMO Capital Markets increased their price target on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. BNP Paribas Exane initiated coverage on Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target on shares of Bentley Systems in a research note on Friday, August 7th. Bank of America assumed coverage on Bentley Systems in a research report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Weiss Ratings raised Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and an average target price of $45.00.

Read Our Latest Stock Analysis on Bentley Systems

Bentley Systems Profile

(Free Report)

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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