Understanding the Risks of Investing in Bentley Systems Incorporated (BSY)


Bentley Systems Incorporated’s recent filing unveils that its Chief Product Officer Campbell Michael M unloaded Company’s shares for reported $0.24 million on Aug 01. In the deal valued at $53.69 per share,4,408 shares were sold. As a result of this transaction, Campbell Michael M now holds 93,965 shares worth roughly $ 4.67 million.

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Then, BENTLEY GREGORY S sold 41,386 shares, generating $2,214,792 in total proceeds. Upon selling the shares at $53.52, the Chairman, CEO & President now owns 7,835,360 shares.

Before that, BENTLEY GREGORY S sold 45,871 shares. Bentley Systems Incorporated shares valued at $2,453,213 were divested by the Chairman, CEO & President at a price of $53.48 per share. As a result of the transaction, BENTLEY GREGORY S now holds 7,876,746 shares, worth roughly $391.71 million.

Wolfe Research downgraded its Bentley Systems Incorporated [BSY] rating to a Peer perform from a an Outperform in a research note published on Tuesday.

Price Performance Review of BSY

On Tuesday, Bentley Systems Incorporated [NASDAQ:BSY] saw its stock fall -0.90% to $49.73. On the same session, the stock had its day’s lowest price of $49.44, but rose to a high of $50.15. Over the last five days, the stock has gained 3.47%. Bentley Systems Incorporated shares have risen nearly 34.55% since the year began. Nevertheless, the stocks have risen 38.64% over the past one year. While a 52-week high of $55.37 was reached on 07/17/23, a 52-week low of $30.51 was recorded on 01/06/23. SMA at 50 days reached $50.97, while 200 days put it at $44.13. A total of 0.83 million shares were traded, compared to the trading of 1.14 million shares in the previous session.

Levels Of Support And Resistance For BSY Stock

The 24-hour chart illustrates a support level at 49.40, which if violated will result in even more drops to 49.06. On the upside, there is a resistance level at 50.11. A further resistance level may holdings at 50.48. The Relative Strength Index (RSI) on the 14-day chart is 53.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.16, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 18.39%. Stochastics %K at 86.54% indicates the stock is a selling.

How much short interest is there in Bentley Systems Incorporated?

A steep rise in short interest was recorded in Bentley Systems Incorporated stocks on Aug 14, 2023, growing by 0.28 million shares to a total of 8.45 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 8.17 million shares. There was a rise of 3.31%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.30% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.68.

Bentley Systems Incorporated [BSY] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 20,942,473 shares, or roughly 7.43% of the outstanding BSY shares. In other words, the investor’s shares have risen by 912,214 from its previous 13-F filing of 20030259.0. Additionally, Kayne Anderson Rudnick Investment increased 2.44% of its stake after which the total value it holdings stand at $697,097,716, while BlackRock Fund Advisors added 11.88% of its stake to hold $487.36 million in the firm. Over the last quarter, Artisan Partners LP purchased 97,773 shares of Bentley Systems Incorporated, while SSgA Funds Management, Inc. bought 186,875 shares. At present, Geode Capital Management LLC is holding 3,162,387 shares valued at $170.39 million. BlackRock Advisors owned 1,813,751 shares of the company at the time of its most recent 13F filing, worth $97.72 million.

According to FactSet, Bentley Systems Incorporated’s share price will average $57.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.58 percent from its previous closing price of $50.18. Analysts expect Bentley Systems Incorporated stock to reach the higher price of $64.00, while the lowest price estimate is $50.00. However, 13 analysts have rated BSY stock as an Overweight in their predictions for 2023.


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