Topic: How To Invest

Q: Pat, can I get your recommendation of Bentley Systems (BSY)? Thank you.

Article Excerpt

A: Bentley Systems Inc., $51.58, symbol BSY on Nasdaq (Shares outstanding: 284.4 million; Market cap: $15.3 billion; www.bentley.com), is a software developer for the construction industry. Its software is used by customers to design, engineer and build highways, bridges and other infrastructure assets. In 1984, brothers Keith and Barry Bentley co-founded the company that bears their name. Another brother, Greg, joined the company in 1991. Greg is Bentley’s current chairman, CEO, and president, while Keith is chief technology officer and director. Barry and Raymond are directors.   Bentley first sold shares to the public and began trading on Nasdaq in September 2020. That’s when it sold 10.8 million shares at $22 each to raise $236.5 million. On June 17, 2021, the company completed the $1.05 billion acquisition of Seequent, a New Zealand-based creator of 3D modelling software for the geosciences industry. Seequent, founded and headquartered in Christchurch, New Zealand, has more than 430 employees in 16 offices, serving geologists, hydrogeologists, geophysicists, geotechnical engineers, and…