Ilmarinen Mutual Pension Insurance Co Invests $984,000 in Bentley Systems, Incorporated $BSY

Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,000 shares of the company’s stock, valued at approximately $984,000.

Other hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC boosted its holdings in shares of Bentley Systems by 3.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company’s stock valued at $333,000 after purchasing an additional 301 shares during the last quarter. Prentiss Smith & Co. Inc. boosted its stake in Bentley Systems by 0.5% during the first quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company’s stock valued at $2,524,000 after buying an additional 315 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Bentley Systems by 3.5% during the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company’s stock valued at $371,000 after buying an additional 315 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Bentley Systems by 7.2% during the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after buying an additional 354 shares in the last quarter. Finally, Wealth Alliance LLC raised its holdings in shares of Bentley Systems by 5.0% during the 1st quarter. Wealth Alliance LLC now owns 7,951 shares of the company’s stock worth $313,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BSY shares. Robert W. Baird set a $64.00 target price on shares of Bentley Systems and gave the company an “outperform” rating in a report on Wednesday, July 30th. Oppenheimer lifted their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. UBS Group upped their target price on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Rosenblatt Securities downgraded shares of Bentley Systems from a “buy” rating to a “neutral” rating and increased their price target for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Finally, KeyCorp boosted their price objective on Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Bentley Systems Price Performance

Bentley Systems stock opened at $52.65 on Thursday. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $55.52 and a 200-day moving average price of $48.80. The firm has a market capitalization of $15.38 billion, a PE ratio of 66.65, a price-to-earnings-growth ratio of 4.32 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the business’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the transaction, the director owned 3,859,327 shares in the company, valued at $214,347,021.58. The trade was a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond B. Bentley sold 122,114 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the completion of the transaction, the director directly owned 15,347,424 shares in the company, valued at $778,114,396.80. This trade represents a 0.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,189,869 shares of company stock worth $60,880,388. 20.56% of the stock is currently owned by company insiders.

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.