Sone Capital Management LLC Purchases Shares of 382,955 Bentley Systems, Incorporated (NASDAQ:BSY)

Sone Capital Management LLC acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 382,955 shares of the company's stock, valued at approximately $17,884,000. Bentley Systems accounts for 2.3% of Sone Capital Management LLC's portfolio, making the stock its 8th largest holding. Sone Capital Management LLC owned 0.13% of Bentley Systems as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB raised its stake in Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company's stock valued at $327,242,000 after acquiring an additional 1,873,029 shares during the period. Pictet Asset Management Holding SA raised its stake in Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock valued at $262,209,000 after acquiring an additional 24,019 shares during the period. Impax Asset Management Group plc raised its stake in Bentley Systems by 41.9% in the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock valued at $115,719,000 after acquiring an additional 736,369 shares during the period. AXA S.A. raised its stake in Bentley Systems by 7.6% in the 4th quarter. AXA S.A. now owns 1,603,157 shares of the company's stock valued at $74,867,000 after acquiring an additional 112,824 shares during the period. Finally, Northern Trust Corp raised its stake in Bentley Systems by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company's stock valued at $67,204,000 after acquiring an additional 228,502 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction on Wednesday, May 7th. The stock was 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 in the company, valued at approximately $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer upped their price target on Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Robert W. Baird decreased their price target on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Mizuho decreased their price target on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada upped their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

Bentley Systems Trading Up 0.7%

Shares of NASDAQ BSY traded up $0.34 during mid-day trading on Thursday, hitting $47.65. The stock had a trading volume of 1,381,326 shares, compared to its average volume of 1,208,494. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $53.47. The business has a 50 day moving average price of $43.19 and a two-hundred day moving average price of $45.53. The firm has a market cap of $13.91 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05.

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

About Bentley Systems

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.