Lansforsakringar Fondforvaltning AB publ Buys New Shares in Bentley Systems, Incorporated (NASDAQ:BSY)

Lansforsakringar Fondforvaltning AB publ acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 51,215 shares of the company's stock, valued at approximately $2,392,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Siemens Fonds Invest GmbH bought a new stake in Bentley Systems in the 4th quarter worth about $391,000. Ameriflex Group Inc. purchased a new position in Bentley Systems in the fourth quarter valued at about $75,000. Cache Advisors LLC purchased a new position in Bentley Systems in the fourth quarter valued at about $293,000. Voloridge Investment Management LLC boosted its stake in Bentley Systems by 187.6% in the fourth quarter. Voloridge Investment Management LLC now owns 324,175 shares of the company's stock valued at $15,139,000 after acquiring an additional 211,476 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in Bentley Systems by 10.9% in the fourth quarter. Woodline Partners LP now owns 435,267 shares of the company's stock valued at $20,327,000 after acquiring an additional 42,931 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price 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. Royal Bank of Canada boosted their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. KeyCorp upped their price target on shares of Bentley Systems from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Oppenheimer upped 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Bentley Systems presently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Insider Transactions at Bentley Systems

In other news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive now owns 68,064 shares of the company's stock, valued at $3,068,325.12. This represents a 15.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 20.56% of the company's stock.

Bentley Systems Stock Performance

Shares of BSY stock traded up $0.01 during trading on Tuesday, reaching $47.65. 1,866,134 shares of the company's stock traded hands, compared to its average volume of 1,208,168. The company has a market capitalization of $13.91 billion, a P/E ratio of 42.93, a PEG ratio of 3.52 and a beta of 1.07. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm's 50-day moving average is $44.24 and its 200 day moving average is $45.43. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $52.42.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (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 analysts' expectations of $366.76 million. During the same period in the prior year, the company posted $0.31 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, June 3rd. Bentley Systems's dividend payout ratio is presently 35.44%.

Bentley Systems Company 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.