Whetstone Capital Advisors LLC Acquires New Position in Bentley Systems, Incorporated $BSY

Whetstone Capital Advisors LLC bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the 2nd quarter, Holdings Channel reports. The fund bought 98,200 shares of the company’s stock, valued at approximately $2,935,000. Bentley Systems comprises approximately 0.8% of Whetstone Capital Advisors LLC’s holdings, making the stock its 25th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of Bentley Systems in the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its position in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bentley Systems during the 3rd quarter valued at $37,000. IFP Advisors Inc lifted its stake in shares of Bentley Systems by 174.5% during the 3rd quarter. IFP Advisors Inc now owns 763 shares of the company’s stock valued at $39,000 after buying an additional 485 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted 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 worth $28,000 after buying an additional 352 shares during the period. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BSY shares. Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Bentley Systems in a research note on Monday, August 10th. BMO Capital Markets increased their target price on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Piper Sandler reissued an “overweight” rating and set a $45.00 target price on shares of Bentley Systems in a research note on Friday, August 7th. Finally, Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $32.01 on Thursday. The company has a market cap of $9.30 billion, a P/E ratio of 35.18, a P/E/G ratio of 2.07 and a beta of 0.98. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $57.25. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm’s fifty day moving average is $34.31 and its two-hundred day moving average is $33.99.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $410.73 million during the quarter, compared to the consensus estimate of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, analysts anticipate that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Profile

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.