Woodline Partners LP Purchases 42,931 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Woodline Partners LP boosted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 435,267 shares of the company's stock after purchasing an additional 42,931 shares during the period. Woodline Partners LP owned about 0.15% of Bentley Systems worth $20,327,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BSY. Swedbank AB grew its holdings in Bentley Systems by 36.5% during the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company's stock valued at $327,242,000 after purchasing an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc grew its holdings in Bentley Systems by 41.9% during 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 purchasing an additional 736,369 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Bentley Systems by 591.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock valued at $26,446,000 after purchasing an additional 475,361 shares during the last quarter. Sone Capital Management LLC bought a new position in Bentley Systems during the 4th quarter valued at about $17,884,000. Finally, BLI Banque de Luxembourg Investments bought a new position in Bentley Systems during the 4th quarter valued at about $14,929,000. 44.16% of the stock is currently owned by institutional investors.

Insider Transactions at Bentley Systems

In other news, CRO Brock Ballard sold 12,363 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive now owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. This represents a 15.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 20.56% of the company's stock.

Bentley Systems Price Performance

Shares of BSY opened at $47.31 on Thursday. The company has a 50 day moving average price of $43.19 and a 200-day moving average price of $45.53. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $53.71. The stock has a market capitalization of $13.81 billion, a PE ratio of 42.62, a PEG ratio of 3.52 and a beta of 1.05. 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 (NASDAQ:BSY - Get Free Report) last announced its quarterly 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. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. During the same quarter in the prior year, the company earned $0.31 EPS. The company's revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on BSY. Royal Bank of Canada upped their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. UBS Group upped their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. KeyCorp upped their target price 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. The Goldman Sachs Group downgraded shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, Mizuho dropped 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

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.

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