Bentley Systems (Nasdaq:BSY) - Stock Analysis
This Simply Wall St analysis provides a comprehensive overview of Bentley Systems (BSY), noting its current stock price of US$33.34, which is considered undervalued by analysts. The report highlights the company's Q1 2026 revenue exceeding expectations, ongoing AI product development, and the launch of the NXT Activate accelerator for AEC software startups. While Bentley Systems shows strong recurring revenue growth and financial flexibility, its share price has underperformed earnings growth over the past few years, and analysts present mixed views on future price targets.
Bentley Systems (BSY) Valuation Check After NXT Activate Accelerator Announcement
Bentley Systems (BSY) recently launched NXT Activate, a developer accelerator, as its stock price sits at US$32.07, down significantly over the past year. Despite a narrative suggesting the stock is 32% undervalued with a fair value of $47.14 due to expected growth in AI-driven solutions and digital transformation, another view highlights a tougher picture with a P/E ratio higher than the industry average, signaling potential overvaluation if growth targets are not met. The article encourages investors to analyze risks and rewards further and consider other investment ideas.
Corinne Bentley reports 38.6M Class B shares (BSY) in Schedule 13G/A
Corinne Bentley has reported beneficial ownership of 38,621,698 Class B common shares of Bentley Systems Inc. (BSY) in a Schedule 13G/A filing, representing 13.2% of the outstanding Class B shares as of March 31, 2026. Her ownership includes shares with sole voting and dispositive power, as well as shares held jointly with her spouse and through family trusts. The filing also highlights the 29-to-1 voting ratio of Class A shares versus Class B, influencing her overall voting power to 6.2% and dispositive power to 15.4% on a combined-vote basis.
The Bull Case For Bentley Systems (BSY) Could Change Following Strong Q1 Recurring Revenue And New Term Loan
Bentley Systems (BSY) reported strong Q1 2026 results, with increased revenue and net income, driven by robust subscription and recurring revenues. The company also secured a new US$550 million term loan, extending its balance sheet flexibility, which could support AI product development and acquisitions. While future projections show significant growth, the increased debt level, despite strong recurring revenue, creates a risk that investors should consider.
Bentley Systems (BSY) Margin Slippage Tests Bullish Earnings Narrative After Q1 2026 Results
Bentley Systems (BSY) reported Q1 2026 revenue of US$424.2 million and basic EPS of US$0.31, with a slight dip in net profit margin from 18.5% to 18.1%. While bullish narratives focus on strong past earnings growth and the potential for AI/cloud offerings to boost margins, bears point to margin slippage and high debt levels as potential concerns. The stock's P/E ratio and DCF fair value suggest the market is balancing growth prospects with valuation risks.
Bentley Systems Earnings Call Highlights Durable Growth
Bentley Systems (BSY) reported strong Q1 earnings, showcasing double-digit revenue growth and annual recurring revenue, driven by its infrastructure software and the Seequent acquisition. The company highlighted robust profitability, significant free cash flow, and strategic investments in AI and new customer acquisition. While navigating challenges like geopolitical tensions in China, FX headwinds, and early AI monetization risks, Bentley Systems reaffirmed its 2026 outlook, emphasizing a durable, high-margin business model with diversified growth drivers.
Bentley Systems Earnings Call Highlights Durable Growth
Bentley Systems (BSY) reported strong Q1 earnings, with double-digit growth in revenue and annual recurring revenue, and robust profitability. The company highlighted its shift to a recurring revenue model, strong retention rates, and the significant growth of its resources segment, particularly driven by the Seequent acquisition. While management remains optimistic about future growth and AI integration, they also acknowledged challenges such as FX headwinds, limited access to the Chinese market, and early-stage AI monetization risks.
Assessing Bentley Systems (BSY) Valuation After Recent Share Price Momentum
Bentley Systems (BSY) stock has seen recent upward momentum, with a 4.8% gain over the last day, despite longer-term losses. The company shows growing revenue and net income, trading at a discount to analyst targets and estimated intrinsic value, suggesting a potential buying opportunity. However, investors should consider competitive risks and the potential for AI investments not to translate into expected earnings.
Subscription growth lifts Bentley Systems (NASDAQ: BSY) Q1 2026 results
Bentley Systems (BSY) reported strong financial results for Q1 2026, with total revenues increasing by 14.5% year-over-year to $424.18 million, primarily driven by a 14.7% rise in subscription revenues. The company's net income attributable to Bentley Systems also grew to $95.39 million, up from $91.37 million in the prior year, leading to diluted EPS of $0.30. Bentley Systems maintained a robust recurring revenue base, with annualized recurring revenues reaching $1.49 billion and a recurring revenues dollar-based net retention rate of 109%.
[Form 4] BENTLEY SYSTEMS INC Insider Trading Activity
Bentley Systems Inc.'s Chief Legal Officer, David R. Shaman, reported a routine insider transaction involving the withholding of 5,287 Class B shares to cover taxes on a distribution from his Non-Qualified Deferred Compensation Plan. The shares were valued at $33.58 each. Following this transaction, Shaman directly holds 654,288 Class B shares and has indirect holdings through a 401(k) plan, a spouse trustee, and Grantor Retained Annuity Trusts.
BSY Stock Price, Quote & Chart | BENTLEY SYSTEMS INC-CLASS B (NASDAQ:BSY)
This article provides a detailed overview of BENTLEY SYSTEMS INC-CLASS B (NASDAQ:BSY) stock, including its current price, performance metrics, key statistics, and fundamental and technical analysis ratings from ChartMill. It also covers earnings reports, analyst forecasts, index memberships, financial highlights, ownership details, and an industry overview. The company's stock is currently trading at $33.56, showing a 2.88% increase today, but has seen longer-term declines.
Bentley Systems (BSY) chair reports stock award and tax withholding in Form 4
Bentley Systems' executive chair, Gregory S. Bentley, received a stock grant of 62,032 Class B shares as compensation under the company's Bonus Pool Plan, valued at $32.65 per share. Concurrently, 27,133 shares from this grant were withheld by the company to cover tax obligations. Following these transactions, Bentley's direct holdings amount to 7,679,892 Class B shares, with additional indirect holdings through a 401(k) plan and his spouse.
Is Zacks’ Strong Buy Upgrade Reframing the Earnings Narrative for Bentley Systems (BSY)?
Zacks has upgraded Bentley Systems (BSY) to a "Strong Buy" due to an improved earnings outlook and rising analyst estimates, signaling increased confidence in the company's financial performance. This upgrade supports the long-term investment narrative for Bentley Systems, emphasizing its role in digital infrastructure software and its execution on AI-driven cloud offerings. However, the article also notes potential risks from emerging AI tools and alternative platforms that could impact Bentley's pricing power.
Can Bentley Systems (BSY) Turn Seequent and AI Momentum Into a Stronger Long-Term Moat?
Bentley Systems (BSY) exceeded analyst expectations for revenue and billings in the past quarter, leading to raised full-year guidance driven by contributions from its Seequent business and increasing emphasis on AI. The company's investment narrative is bolstered by accelerating AI and cloud-based workflow adoption, demonstrating real-world applications with partners like the Alabama Department of Transportation, though competition from open-source alternatives remains a potential risk to premium pricing. Analysts project significant revenue and earnings growth for Bentley Systems by 2029, suggesting a substantial upside to its current stock price.
Bentley Systems (NASDAQ: BSY) details 2026 virtual meeting, pay vote and strong 2025 results
Bentley Systems (NASDAQ: BSY) announced detailed plans for its fully virtual 2026 Annual Meeting of Stockholders on May 21, 2026, where shareholders will vote on director elections, executive compensation, and the ratification of KPMG LLP as the independent auditor. The company also reported strong financial results for 2025, including approximately $1.5 billion in revenue, an 11.0% increase over 2024, and $1,462 million in Annualized Recurring Revenues with 11.5% constant-currency growth. Bentley highlighted improved profitability, a 28.6% AOI less SBC margin, and significant cash generation, with operating cash flow of $538.5 million and free cash flow of $520.2 million.
Did Bentley’s Lowered ARR Outlook and AI Jitters Just Shift Bentley Systems' (BSY) Investment Narrative?
Bentley Systems (BSY) recently lowered its 2026 annual recurring revenue (ARR) growth outlook due to slower revenue growth, increased investment in product development, and concerns about project timing. This adjustment, coupled with broader industry anxieties about AI’s potential to disrupt traditional software models, is prompting a re-evaluation of Bentley's investment narrative. Despite strong Q4 2025 results and a profitable trajectory, investors are now weighing the company’s AI-enhanced software franchise against execution risks and the potential for AI to compress software pricing.
Bentley Systems (BSY) CTO has 3,007 shares withheld for tax obligations
Bentley Systems' Chief Technology Officer, Julien Moutte, had 3,007 shares of Class B Common Stock withheld on April 1, 2026. This action was a tax-withholding disposition to cover tax obligations from vested awards, not an open-market sale. Following this transaction, Moutte directly holds 90,166 shares of Bentley Systems stock.
Bentley Systems (BSY) CAO has 172 shares withheld to cover tax on vesting
Bentley Systems' Chief Accounting Officer, Thomas F. Trimback, had 172 shares of Class B Common Stock withheld at $34.76 per share to cover tax obligations arising from the vesting of previously granted equity awards. This was a routine tax-withholding disposition, not an open-market sale, and Trimback now directly holds 19,334 Class B shares. This transaction is considered neutral in its impact and sentiment for investors.
Bentley Systems (BSY) COO receives 375 dividend-equivalent rights in Form 4 filing
Bentley Systems' COO, James K. Lee, acquired 375 dividend-equivalent rights on Class B Common Stock as reported in a Form 4 filing on March 19, 2026. These rights are compensation-related, accruing from a dividend paid on previously granted awards, and are not an open-market transaction. Following this, Lee directly holds 220,948 shares of Class B Common Stock.
Bentley Systems (BSY) CEO adds 707 dividend equivalent rights to holdings
Bentley Systems' CEO, Nicholas Cumins, received 707 shares of Class B Common Stock as a grant, representing dividend equivalent rights that accrued on previously awarded grants. These rights vest under the same conditions as the original awards and were granted at a price of $0.00 per share. This transaction increases Cumins' direct holdings to 531,839 shares of Class B Common Stock but does not represent an open-market purchase or sale.
Dividend share award increases Bentley Systems (BSY) CTO equity stake
Bentley Systems (BSY) Chief Technology Officer, Julien Moutte, recently received a grant of 173 shares of Class B Common Stock, classified as dividend equivalent rights. These shares, accrued from previous awards when the company paid a dividend, will vest under the same conditions as the original awards. This grant increases Moutte's direct holdings to 93,173 shares, representing a routine increase in his equity compensation.
Bentley Systems (BSY) CRO gains 163 dividend-based Class B shares
Bentley Systems' Chief Revenue Officer, Brock Ballard, acquired 163 dividend-based Class B shares on March 19, 2026. These shares were granted as dividend equivalent rights related to previous awards and were acquired at $0.00 per share, vesting on the same terms as the original awards. Following this transaction, Ballard directly holds 93,835 shares of Class B Common Stock.
Dividend equivalents boost Bentley Systems (BSY) director Kirk Griswold’s stake
Bentley Systems director Kirk B. Griswold received 70 Class B Common Stock shares as dividend equivalent rights, not through an open-market transaction. These shares, valued at $0.00, will vest under the same terms as their original awards. Following this routine acquisition, Griswold now directly holds 461,282 shares of Bentley Systems Class B Common Stock.
Bentley Systems (BSY) CFO receives 243 dividend-equivalent Class B shares
Bentley Systems' CFO, Andre Werner, acquired 243 shares of Class B common stock on March 19, 2026. These shares were granted as dividend equivalent rights linked to existing equity awards and were not an open-market purchase. Following this acquisition, Werner directly holds 376,868 Class B shares, with the new rights vesting under the same terms as the original awards.
Raymond B. Bentley (NASDAQ: BSY) receives 1,671 Class B share grant
Raymond B. Bentley, a director and ten-percent owner of Bentley Systems Inc. (NASDAQ: BSY), received a grant of 1,671 shares of Class B common stock. These shares represent dividend equivalent rights tied to previously granted awards and were acquired at a stated price of $0.00 per share. Following this transaction, Mr. Bentley directly holds 14,812,284 shares of Class B common stock, with additional indirect holdings through his spouse and a 401(k) plan.
Bentley Systems (BSY) CLO awarded 546 Class B shares in Form 4
Bentley Systems' Chief Legal Officer, David R. Shaman, was awarded 546 Class B Common Stock shares. These shares were granted as dividend equivalent rights at a price of $0.00 and will vest under the same conditions as previously granted awards. Following this transaction, Shaman directly holds 659,575 Class B Common Stock shares, with additional indirect holdings through trusts and a 401(k) plan.
Bentley Systems (BSY) grants Gregory Bentley 3,019 Class B shares
Bentley Systems' Executive Chair and President, Gregory S. Bentley, was granted 3,019 Class B common shares. These shares represent dividend equivalent rights accrued from previous awards and were received at no cost, vesting under the same terms as the original grants. After this transaction, Bentley directly holds 7,617,860 Class B shares, with additional indirect holdings through his spouse and a 401(k) plan.
Bentley Systems (BSY) CAO gets 35 dividend-equivalent Class B shares
Bentley Systems' Chief Accounting Officer, Thomas F. Trimback, was awarded 35 dividend-equivalent Class B Common Stock shares on March 19, 2026. These shares are part of a routine, compensation-related equity grant, vesting on the same terms as previously granted awards. Following this transaction, Trimback directly holds 19,506 shares of Class B Common Stock.
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BSY SEC Filings - Bentley Systems Inc 10-K, 10-Q, 8-K Forms
This page provides comprehensive access to Bentley Systems (BSY) SEC filings, including annual 10-K, quarterly 10-Q, and material event 8-K forms, alongside insider trading reports. It details the company's financial condition, operations, and key metrics related to its infrastructure engineering software and cloud services. The platform also offers AI-powered summaries and real-time updates to help investors track regulatory disclosures and insider activity.
BSY SEC Filings - Bentley Systems Inc 10-K, 10-Q, 8-K Forms
This page on Stock Titan provides comprehensive access to Bentley Systems (BSY) SEC filings, including 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider trading forms. It details the company's financial condition, operations, and significant events as an infrastructure engineering software provider. The content also highlights recent insider transactions, specifically sales by Director Raymond B. Bentley, and offers AI-powered summaries of these lengthy documents.
Bentley Systems (BSY) CLO reports 984-share tax withholding on equity vesting
Bentley Systems' Chief Legal Officer, David R. Shaman, reported a routine tax-related share disposition. On March 17, 2026, 984 shares of Class B common stock were withheld by the company at $37.88 per share to cover taxes due upon the vesting of previously granted awards. After this transaction, Shaman directly held 659,029 Class B shares and also reported significant indirect holdings through various trusts and a 401(k) plan.
Bentley Systems (BSY) CTO uses 431 shares to cover taxes
Bentley Systems' Chief Technology Officer, Julien Moutte, reported a tax-withholding disposition of 431 Class B Common Stock shares. These shares, valued at $37.88 each, were withheld by the company to cover tax obligations on previously vested awards. Following this non-market transaction, Moutte continues to directly hold 93,000 Class B shares in Bentley Systems.
[Form 4] BENTLEY SYSTEMS INC Insider Trading Activity
Bentley Systems Inc. CFO Andre Werner reported a tax-related disposition of 1,503 shares of Class B common stock on March 17, 2026, to cover taxes from vested equity awards. The shares were withheld by the company at $37.88 each. Following this transaction, Werner retains a significant direct ownership of 376,625 shares, indicating the disposition was for tax obligations rather than a market sale.
Bentley Systems (NASDAQ: BSY) CEO logs 2,430-share tax-withholding disposition
Bentley Systems Inc. CEO Nicholas Cumins reported a routine tax-related share disposition where 2,430 shares of Class B Common Stock were withheld by the company at $37.88 per share to cover taxes on previously vested awards. This transaction was a tax withholding, not an open-market sale, and Cumins still directly holds 531,132 shares of BSY. The Form 4 filing details the transaction as occurring on March 17, 2026, with the filing date of March 19, 2026.
Bentley Systems (NASDAQ: BSY) CRO has 293 shares withheld for tax obligations
Bentley Systems' Chief Revenue Officer, Brock Ballard, had 293 Class B common shares withheld at $37.88 each to cover tax obligations stemming from previously vested equity awards. This disposition is a routine non-market transaction used to satisfy tax liabilities. Following this transaction, Mr. Ballard directly holds 93,672 shares of Class B common stock in Bentley Systems.
Bentley Systems (BSY) CEO has 6,626 shares withheld for taxes
Bentley Systems CEO Nicholas Cumins had 6,626 Class B common shares, valued at $38.19 each, withheld by the company to cover tax obligations incurred from the vesting of previously granted awards. This transaction was a routine tax-related disposition, not an open-market sale, and Cumins retains a substantial equity stake with 533,562 Class B shares after the withholding. The transaction code "F" on the SEC Form 4 indicates shares were delivered to the issuer for tax purposes.
Bentley Systems (BSY) CAO faces routine 451-share tax withholding
Bentley Systems' Chief Accounting Officer, Thomas F. Trimback, had 451 shares of Class B Common Stock withheld by the company on March 13, 2026, to cover tax obligations from previously vested awards. This transaction, valued at $38.19 per share, was a routine tax-withholding event and not a discretionary stock sale. Following this, Trimback directly holds 19,471 shares of Class B Common Stock.
Bentley Systems (BSY) COO has shares withheld to cover equity award taxes
Bentley Systems' COO, James K. Lee, had 747 shares of Class B common stock withheld by the company to cover tax obligations arising from the vesting of previously granted equity awards. This is a routine tax-related transaction and not an open-market sale. Following this event, Lee still directly holds a significant stake of 220,573 shares in Bentley Systems.
Bentley Systems (BSY) CLO uses 4,587 shares to cover tax obligation
Bentley Systems' Chief Legal Officer, David R. Shaman, reported a routine tax-withholding transaction where 4,587 Class B shares were withheld at $38.19 each to cover taxes for vested equity awards. This was not an open-market sale but a tax-related disposition. After this, Shaman directly owns 660,013 Class B shares and holds additional shares indirectly through trusts, a spouse, and a 401(k) plan.
Bentley Systems (BSY) CFO has 5,096 shares withheld to cover taxes
Bentley Systems' Chief Financial Officer Andre Werner had 5,096 Class B shares withheld by the company at $38.19 per share to cover tax obligations upon the vesting of previously granted equity awards. This routine tax-related disposition is not an open-market sale, and Werner retains a substantial equity position, directly holding 378,128 Class B shares after the transaction. The Form 4 filing provides details of this non-derivative securities transaction.
Bentley Systems (BSY) CRO has 4,147 shares withheld to cover tax on vesting
Bentley Systems' Chief Revenue Officer, Brock Ballard, had 4,147 shares of Class B common stock withheld by the company to cover tax obligations upon the vesting of previously granted awards. This transaction, valued at $38.19 per share, is a routine tax-related disposition, not an open-market sale. After the withholding, Ballard directly holds 93,965 Class B shares.
Bentley Systems (BSY) director gifts 250,000 Class B common shares
Raymond B. Bentley, a director and large shareholder of Bentley Systems Inc. (BSY), reported gifting 250,000 Class B Common Stock shares on March 12, 2026, at a stated price of $0.00 per share. After this transaction, Bentley directly holds 14,810,613 Class B shares and maintains indirect holdings through his spouse and a 401(k) plan. This report is filed as a Form 4 with the SEC, indicating a bona fide gift.
Bentley Systems (NASDAQ: BSY) awards 3,982 Class B shares to CAO
Bentley Systems (NASDAQ: BSY) has awarded 3,982 Class B Common Stock shares to its Chief Accounting Officer, Thomas F. Trimback, as part of a time-based restricted stock unit grant under the 2020 Omnibus Incentive Plan. The shares will vest over four years, with one-quarter vesting each anniversary of the March 6, 2026 grant date. Following this grant, Trimback directly holds 19,922 shares of Class B Common Stock.
Will Strong 2025 Results and 2026 Guidance Shape Bentley Systems' (BSY) AI and ARR Narrative?
Bentley Systems (BSY) recently reported strong Q4 and full-year 2025 results, with increased revenue and net income, alongside reaffirmed 2026 revenue guidance and a dividend declaration. This performance has fueled analyst optimism, particularly concerning how the company's AI-powered offerings and recurring revenue models will influence its investment narrative. While the results support near-term earnings, key risks include potential disruption from agentic AI and rising competition in cloud-native tools, emphasizing the importance of strong execution on AI-enabled offerings.
BSY Earnings History & Surprises | EPS & Revenue Results | BENTLEY SYSTEMS INC-CLASS B (NASDAQ:BSY)
This article provides a detailed historical overview of Bentley Systems Inc-Class B (BSY) earnings, including reported EPS and revenue, analyst estimates, and surprise percentages. It covers quarterly results, growth trends, and a summary of performance over the last four quarters. The next earnings date is projected for May 5, 2026, for Q1 2026.
BSY SEC Filings - Bentley Systems Inc 10-K, 10-Q, 8-K Forms
This page provides a comprehensive resource for Bentley Systems (BSY) SEC filings, including 10-K annual reports, 10-Q quarterly earnings, and 8-K material events, along with insider trading forms. It highlights how Stock Titan uses AI to summarize lengthy documents and provide real-time updates for investors. Recent insider transactions, such as planned share sales and dispositions by directors, are also detailed, offering insight into ownership changes.
Bentley Systems (BSY) awards time-based RSUs to Chief Legal Officer
Bentley Systems (BSY) has granted its Chief Legal Officer, David R. Shaman, 18,769 shares of Class B common stock as a time-based restricted stock unit award. This award, valued at $0, was issued under the company's 2020 Omnibus Incentive Plan and will vest over four years, with one-quarter vesting annually. Following this grant, Shaman directly holds 664,600 shares of Class B common stock, with additional indirect holdings through various trusts and a 401(k) plan.
Bentley Systems Earnings Call Highlights Growth And Cash
Bentley Systems (BSY) reported strong Q4 results highlighting durable double-digit growth in annualized recurring revenue (ARR), increasing profitability, and robust free cash flow. While facing headwinds in services revenue and certain regions like China, the company is seeing traction in AI-driven asset analytics and maintains a constructive outlook for 2026 with projected revenue growth and continued ARR expansion.
Bentley Systems Earnings Call Highlights Growth And Cash
Bentley Systems reported strong Q4 and fiscal year 2025 results, emphasizing double-digit growth in annualized recurring revenue and subscription revenue, as well as robust free cash flow generation. The company highlighted accelerating AI-driven asset analytics, disciplined M&A, and a constructive outlook for 2026 despite some headwinds in services revenue and economic pressures in China. Bentley is focusing on its recurring revenue model and strengthening its balance sheet.
