LRI Investments LLC Purchases 319 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

LRI Investments LLC raised its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,534 shares of the company’s stock after acquiring an additional 319 shares during the period. LRI Investments LLC’s holdings in Bentley Systems were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BSY. GAMMA Investing LLC raised its stake in shares of Bentley Systems by 90.1% in the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the period. Blue Trust Inc. raised its stake in shares of Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Bentley Systems by 496.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock valued at $47,000 after purchasing an additional 749 shares during the period. Van ECK Associates Corp bought a new stake in shares of Bentley Systems during the 4th quarter valued at $72,000. Finally, Principal Securities Inc. bought a new stake in shares of Bentley Systems during the 4th quarter valued at $73,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $50.22 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $14.49 billion, a P/E ratio of 46.93, a P/E/G ratio of 4.21 and a beta of 1.03. The stock’s 50-day simple moving average is $49.25 and its two-hundred day simple moving average is $50.81. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The company had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same quarter last year, the firm earned $0.20 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that Bentley Systems, Incorporated will post 0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on BSY. The Goldman Sachs Group decreased their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Mizuho boosted their price objective on Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.57.

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.