Voloridge Investment Management LLC Buys 211,476 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Voloridge Investment Management LLC lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 187.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 324,175 shares of the company's stock after purchasing an additional 211,476 shares during the period. Voloridge Investment Management LLC owned approximately 0.11% of Bentley Systems worth $15,139,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA boosted its stake in Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after purchasing an additional 378 shares during the period. Tobam purchased a new stake in shares of Bentley Systems in the fourth quarter valued at $55,000. Atala Financial Inc purchased a new position in shares of Bentley Systems during the fourth quarter valued at $55,000. CIBC Private Wealth Group LLC grew its holdings in shares of Bentley Systems by 42.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock valued at $78,000 after buying an additional 495 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its position in Bentley Systems by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock valued at $78,000 after buying an additional 728 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Rosenblatt Securities lowered their target price on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Robert W. Baird decreased their price target on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Mizuho dropped their price objective 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. Oppenheimer lifted their target price 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. Finally, KeyCorp upped their price target on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an "overweight" 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 issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.00.

Bentley Systems Stock Down 0.8%

Shares of NASDAQ:BSY traded down $0.41 on Wednesday, reaching $47.93. The company had a trading volume of 1,261,212 shares, compared to its average volume of 1,203,024. The stock has a market capitalization of $13.99 billion, a P/E ratio of 43.18, a P/E/G ratio of 3.52 and a beta of 1.05. The stock has a 50-day moving average price of $43.64 and a 200 day moving average price of $45.45. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $53.47. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

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

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Tuesday, June 3rd. Bentley Systems's dividend payout ratio is currently 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.