Voleon Capital Management LP Purchases 37,440 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Voleon Capital Management LP significantly increased its stake in Bentley Systems by 858.1% during the first quarter, now holding a total of 41,803 shares worth approximately $1.65 million.
• Analysts have mixed views on Bentley Systems, with Goldman Sachs raising their target price to $47.00 but maintaining a "sell" rating, while UBS increased its target to $60.00 with a "neutral" rating.
• In the last 90 days, insiders have sold nearly 1.19 million shares of Bentley Systems, with director Raymond B. Bentley selling over 355,000 shares for nearly $17.7 million.

Voleon Capital Management LP increased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 858.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 41,803 shares of the company's stock after purchasing an additional 37,440 shares during the period. Voleon Capital Management LP's holdings in Bentley Systems were worth $1,645,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. City Holding Co. bought a new position in Bentley Systems in the 1st quarter worth about $26,000. Twin Tree Management LP increased its stake in Bentley Systems by 361.9% in the 1st quarter. Twin Tree Management LP now owns 739 shares of the company's stock worth $29,000 after acquiring an additional 579 shares during the last quarter. Larson Financial Group LLC increased its stake in Bentley Systems by 1,707.1% in the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company's stock worth $30,000 after acquiring an additional 717 shares during the last quarter. Fifth Third Bancorp increased its stake in Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after acquiring an additional 435 shares during the last quarter. Finally, HM Payson & Co. bought a new position in Bentley Systems in the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded down $0.52 during trading on Friday, hitting $52.94. 862,542 shares of the stock traded hands, compared to its average volume of 1,456,292. The firm's fifty day moving average is $55.38 and its 200-day moving average is $48.96. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The stock has a market cap of $15.46 billion, a price-to-earnings ratio of 67.01, a PEG ratio of 4.27 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. During the same period last year, the company earned $0.31 EPS. Bentley Systems's revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Bentley Systems's payout ratio is presently 35.44%.

Insider Activity

In related news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the transaction, the insider owned 647,609 shares of the company's stock, valued at $36,887,808.64. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the transaction, the director directly owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,189,869 shares of company stock worth $60,880,388 in the last quarter. 20.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler upped their target price on Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Oppenheimer upped their target price on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 target price on Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and increased their price objective for the company from $53.00 to $58.00 in a research report on Thursday, August 7th. Finally, UBS Group increased their price objective on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.60.

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.