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BSY Bentley Systems

Bentley Systems, Incorporated provides software solutions. The Company offers software for bridge analysis, construction, simulation and analysis, modeling, and geotechnical engineering. Bentley Systems serves customers worldwide.

Company profile

Ticker
BSY
Exchange
Website
CEO
Gregory Bentley
Employees
Incorporated
Location
Fiscal year end
SEC CIK

BSY stock data

(
)

Calendar

11 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jul 21 Keith A. Bentley Class B Common Stock Sell Dispose S No Yes 60.8645 61,084 3.72M 16,297,115
29 Jul 21 Keith A. Bentley Class B Common Stock Sell Dispose S No Yes 61.3461 31,602 1.94M 16,358,199
29 Jul 21 Keith A. Bentley Class B Common Stock Sell Dispose S No Yes 60.9151 18,167 1.11M 16,389,801
29 Jul 21 Raymond B. Bentley Class B Common Stock Sell Dispose S No Yes 61.3866 28,129 1.73M 19,063,654
29 Jul 21 Raymond B. Bentley Class B Common Stock Sell Dispose S No Yes 60.91 17,757 1.08M 19,091,783
28 Jul 21 Raymond B. Bentley Class B Common Stock Sell Dispose S No Yes 60.1176 118,608 7.13M 19,109,540
28 Jul 21 Keith A. Bentley Class B Common Stock Sell Dispose S No Yes 60.116 290,478 17.46M 16,407,968
27 Jul 21 Keith A. Bentley Class B Common Stock Sell Dispose S No Yes 61.0829 2,471 150.94K 16,698,446
27 Jul 21 Keith A. Bentley Class B Common Stock Sell Dispose S No Yes 60.1753 35,192 2.12M 16,700,917
27 Jul 21 Keith A. Bentley Class B Common Stock Sell Dispose S No Yes 59.5713 47,577 2.83M 16,736,109

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

24.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 129 81 +59.3%
Opened positions 66 81 -18.5%
Closed positions 18 0 NEW
Increased positions 36 0 NEW
Reduced positions 17 0 NEW
13F shares
Current Prev Q Change
Total value 3.32B 4.51B -26.2%
Total shares 64.51M 60.31M +7.0%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Invest Management Sarl SPT 35.57M $1.67B 0.0%
Kayne Anderson Rudnick Investment Management 5.55M $260.6M +22.5%
Capital Research Global Investors 3.51M $164.59M +0.0%
Pictet Asset Management 2.09M $97.91M -20.1%
Artisan Partners Limited Partnership 1.91M $89.86M +11.4%
Manufacturers Life Insurance Company, The 1.79M $83.86M +449.0%
TROW T. Rowe Price 1.38M $64.99M +0.9%
TD Asset Management 1.09M $51M +65.7%
WFC Wells Fargo & Co. 1.06M $49.85M -17.3%
TimesSquare Capital Management 717.3K $33.66M +11.2%
Largest transactions
Shares Bought/sold Change
Manufacturers Life Insurance Company, The 1.79M +1.46M +449.0%
AMP Ameriprise Financial 5.86K -1.2M -99.5%
Kayne Anderson Rudnick Investment Management 5.55M +1.02M +22.5%
Capital World Investors 0 -600K EXIT
ATAC Neuberger Berman 597.82K +597.82K NEW
Pictet Asset Management 2.09M -523.2K -20.1%
TD Asset Management 1.09M +431.05K +65.7%
Fred Alger Management 361.2K +361.2K NEW
Mizuho Markets Americas 333.64K +333.64K NEW
Polar Capital 388.62K +257.11K +195.5%

Financial report summary

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Competition
Autodesk
Risks
  • Demand for our software solutions is subject to volatility in our accounts’ underlying businesses, which includes infrastructure projects that typically have long timelines.
  • The ongoing global coronavirus outbreak could materially and adversely affect our business.
  • The majority of our revenues and an increasing percentage of our operations are attributable to operations outside the United States, and our results of operations therefore may be materially affected by the legal, regulatory, social, political, economic, and other risks of foreign operations.
  • Decreased investment by APAC, including China, may have a negative effect on our business.
  • We are exposed to fluctuations in currency exchange rates that could negatively impact our financial results and cash flows.
  • We may not be able to increase the number of new subscription‑based accounts or cause existing accounts to renew their subscriptions, which could have a negative impact on our future revenues and results of operations.
  • Consolidation among our accounts and other enterprises in the markets in which we operate may result in a loss of business.
  • We have in the past and expect to continue in the future to seek to grow our business through acquisitions of or investments in new or complementary businesses, software solutions, or technologies, and the failure to manage acquisitions or investments, or the failure to integrate them with our existing platform and business, could harm us.
  • Quality problems, defects, errors, failures, or vulnerabilities in our software solutions or services could harm our reputation and adversely affect our business, financial condition, results of operations, and prospects.
  • Our business, financial condition, results of operations, and prospects may be harmed if we are unable to cross‑sell our solutions.
  • There are significant costs and restrictions associated with the repatriation of cash from our non-U.S. operations.
  • From time to time we realign or introduce new business initiatives, including reorganizing our sales and marketing, research and development, and administrative functions; if we fail to successfully execute and manage these initiatives, our results of operations could be negatively impacted.
  • A portion of our revenues are from sales by our channel partners and we could be subject to loss or liability based on their actions.
  • Interruptions in the availability of server systems or communications with Internet, third‑party hosting facilities or cloud‑based services, or failure to maintain the security, confidentiality, accessibility, or integrity of data stored on such systems, could harm our business or impair the delivery of our managed services.
  • If our security measures or those of our third‑party cloud data hosts, cloud computing platform providers, or third‑party service partners, are breached, and unauthorized access is obtained to an account’s data, our data or our IT systems, our services may be perceived as not being secure, accounts may curtail or stop using our services, and we may incur significant legal and financial exposure and liabilities.
  • Failure to protect our intellectual property rights could impair our ability to protect our proprietary technology and our brand.
  • Increasingly stringent and growing data protection and privacy laws with respect to cloud computing, cross‑border data transfer restrictions, and other restrictions may apply to our business and non‑compliance with such rules may limit the use and adoption of our services and adversely affect our business.
  • We license third‑party technologies for the development of certain of our software solutions, and, in some instances, we incorporate third‑party technologies, including open source software, into our software solutions. If we fail to maintain these licenses or are unable to secure alternative licenses on reasonable terms, our business could be adversely affected.
  • Assertions by third parties of infringement or other violations by us of their intellectual property rights could result in significant costs and harm our business and results of operations.
  • Recent and potential tariffs imposed by the U.S. government or a global trade war could increase the cost of our products and services and the cost of conducting our business, which could harm our business, financial condition, and results of operations.
  • The United Kingdom’s withdrawal from the E.U. may have a negative effect on global economic conditions, financial markets, and our business.
  • We are subject to legal proceedings and regulatory inquiries, and we may be named in additional legal proceedings or become involved in regulatory inquiries in the future, any of which may be costly, distracting to our core business and could result in an unfavorable outcome, or harm on our business, financial condition, results of operations, cash flows, or the trading price for our securities.
  • Failure to comply with the U.S. Foreign Corrupt Practices Act (“FCPA”) and similar anti‑bribery and anti‑corruption laws associated with our activities outside the United States could subject us to penalties and other adverse consequences.
  • We are subject to governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls.
  • We may face exposure to product or professional liability claims that could cause us to be liable for damages.
  • Our credit agreement, as amended, contains restrictive covenants that may limit our operating flexibility, and certain changes in ownership of equity interests in us by the Bentley Family, as defined, constitutes an event of default.
  • The phase‑out of LIBOR could affect interest rates under our Credit Facility.
  • We may incur substantial additional debt, which could exacerbate the risks described above.
  • Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our business to pay our substantial debt.
  • We issued convertible notes that have rights senior to our Class B Common Stock.
  • The accounting method for convertible debt securities that may be settled in cash, such as the 2026 Notes, could have a material effect on our reported financial condition and results.
  • The conditional conversion feature of the 2026 Notes may adversely affect our financial condition and operating results.
  • Conversion of the 2026 Notes will dilute the ownership interest of existing stockholders, including holders who had previously converted their 2026 Notes, or may otherwise depress the price of our Class B Common Stock.
  • The capped call transactions entered into when we issued the 2026 Notes may affect the value of our common stock.
  • The dual class structure of our common stock has the effect of concentrating voting control with the Bentley Control Group, as defined.
  • The choice of forum provision in our amended and restated certificate of incorporation could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or colleagues.
  • Global economic conditions may negatively impact our business, financial condition, and results of operations.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • All amounts presented in this Management’s Discussion and Analysis of Financial Condition and Results of Operations, except share and per share amounts, are presented in thousands. Additionally, many of the amounts and percentages have been rounded for convenience of presentation.
  • We are a leading global provider of software for infrastructure engineering, enabling the work of civil, structural, geotechnical, and plant engineering practitioners, their project delivery enterprises, and owner‑operators of infrastructure assets. We were founded in 1984 by the Bentley brothers and on September 25, 2020, we completed our IPO.
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Patents

APP
Utility
Assigning Each Point of a Point Cloud to a Scanner Position of a Plurality of Different Scanner Positions In a Point Cloud
27 May 21
In an example embodiment, a process may create a disk for each point of the point cloud, where a size of the disk and the orientation of the disk are respectively based on a computed scale and a non-oriented normal.
GRANT
Utility
Locking of spatial regions of large-scale fully-connected multi-dimensional spatial data for collaborative updating
25 May 21
In an example embodiment, techniques are provided for locking a region of fully-connected large-scale multi-dimensional spatial data (e.g., a large-scale 3-D mesh) defined by a bounding box.
APP
Utility
Classifying Individual Elements of an Infrastructure Model
22 Apr 21
In example embodiments, techniques are provided to automatically classify individual elements of an infrastructure model by training one or more machine learning algorithms on classified infrastructure models, producing a classification model that maps features to classification labels, and utilizing the classification model to classify the individual elements of the infrastructure model.
GRANT
Utility
Maintaining a class hierarchy of an object-oriented data model using shared columns and/or overflow tables
6 Apr 21
Techniques are provided for maintaining a class hierarchy of an object-oriented data model in tables of a relational database that minimize performance impact (e.g., in terms of both processing resources and storage footprint).
GRANT
Utility
Structure depth-aware weighting in bundle adjustment
23 Mar 21
In various embodiments, techniques are provided for photogrammetric 3D model reconstruction that modify the optimization performed in bundle adjustment operations of an automatic SfM stage to apply a depth-aware weighting to reprojection error of each 3D point used in the optimization.