Bentley Systems, Incorporated (NASDAQ:BSY) Shares Bought by Needham Investment Management LLC

Needham Investment Management LLC increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 132.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,500 shares of the company's stock after acquiring an additional 55,500 shares during the quarter. Needham Investment Management LLC's holdings in Bentley Systems were worth $4,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC lifted its position in shares of Bentley Systems by 3.6% during the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock worth $340,000 after purchasing an additional 254 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Bentley Systems by 3.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock worth $469,000 after buying an additional 317 shares during the period. Prudential PLC increased its stake in shares of Bentley Systems by 0.6% during the fourth quarter. Prudential PLC now owns 63,008 shares of the company's stock worth $2,942,000 after buying an additional 371 shares during the period. Private Trust Co. NA increased its stake in shares of Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after buying an additional 378 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Bentley Systems by 4.3% during the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company's stock worth $426,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Activity at Bentley Systems

In related news, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive now owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.56% of the stock is currently owned by corporate insiders.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded down $0.26 on Friday, hitting $47.97. The company's stock had a trading volume of 1,010,692 shares, compared to its average volume of 1,215,072. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a fifty day moving average price of $42.76 and a 200-day moving average price of $45.52. The company has a market capitalization of $14.00 billion, a P/E ratio of 43.22, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. During the same period in the previous year, the firm earned $0.31 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a $0.07 dividend. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a yield of 0.58%. Bentley Systems's payout ratio is presently 35.44%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BSY shares. Mizuho cut their target price on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities dropped their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Oppenheimer increased their price target on shares of Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price target for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Bentley Systems 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.