Sone Capital Management LLC Purchases New Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Sone Capital Management LLC purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 382,955 shares of the company’s stock, valued at approximately $17,884,000. Bentley Systems makes up 2.3% of Sone Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Sone Capital Management LLC owned 0.13% of Bentley Systems as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Private Trust Co. NA raised its position in Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after buying an additional 378 shares during the last quarter. Tobam bought a new stake in shares of Bentley Systems in the 4th quarter worth $55,000. Atala Financial Inc bought a new stake in shares of Bentley Systems in the 4th quarter worth $55,000. Tortoise Investment Management LLC raised its holdings in shares of Bentley Systems by 76.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after purchasing an additional 728 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position 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 purchasing an additional 495 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BSY. JPMorgan Chase & Co. decreased their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities decreased their price target on Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada lifted their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, Mizuho decreased their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.00.

Insiders Place Their Bets

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the 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 sale, the executive now directly owns 68,064 shares in the company, valued at $3,068,325.12. This represents a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 20.56% of the stock is owned by corporate insiders.

Bentley Systems Trading Down 0.5%

Shares of Bentley Systems stock opened at $47.97 on Monday. The stock has a market capitalization of $14.00 billion, a P/E ratio of 43.22, a P/E/G ratio of 3.52 and a beta of 1.05. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock’s 50-day simple moving average is $42.76 and its 200 day simple moving average is $45.50.

Bentley Systems (NASDAQ:BSY) 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 the consensus estimate of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. As a group, research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.58%. Bentley Systems’s dividend payout ratio is 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.