Bentley Systems, Incorporated (NASDAQ:BSY) Sees Significant Growth in Short Interest

Bentley Systems, Incorporated (NASDAQ:BSY) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 8,170,000 shares, an increase of 9.4% from the July 31st total of 7,470,000 shares. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is presently 6.7 days. Currently, 6.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after acquiring an additional 508 shares during the period. GAMMA Investing LLC increased its holdings in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. increased its holdings 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 worth $36,000 after buying an additional 685 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after acquiring an additional 358 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Bentley Systems during the second quarter worth $43,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY traded up $0.07 during mid-day trading on Friday, hitting $51.47. The company’s stock had a trading volume of 1,352,234 shares, compared to its average volume of 1,002,789. The business’s fifty day moving average is $49.21 and its two-hundred day moving average is $50.80. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 48.10, a PEG ratio of 4.30 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $325.20 million. During the same quarter in the prior year, the firm posted $0.20 EPS. Bentley Systems’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Bentley Systems will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on BSY. Mizuho lifted their price target on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group decreased their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.57.

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.