Two Sigma Investments LP Raises Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Two Sigma Investments LP raised its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 42.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,700 shares of the company’s stock after purchasing an additional 12,689 shares during the quarter. Two Sigma Investments LP’s holdings in Bentley Systems were worth $1,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Intech Investment Management LLC increased its position in Bentley Systems by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after purchasing an additional 254 shares during the period. EverSource Wealth Advisors LLC increased its position in Bentley Systems by 3.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock valued at $469,000 after purchasing an additional 317 shares during the period. Quantinno Capital Management LP increased its position in Bentley Systems by 7.2% during the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after purchasing an additional 354 shares during the period. Prudential PLC increased its position in Bentley Systems by 0.6% during the 4th quarter. Prudential PLC now owns 63,008 shares of the company’s stock valued at $2,942,000 after purchasing an additional 371 shares during the period. Finally, Private Trust Co. NA increased its position in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after purchasing an additional 378 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on BSY. Robert W. Baird reduced their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Wall Street Zen upgraded shares of Bentley Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their target price for the company from $51.00 to $42.00 in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Finally, Rosenblatt Securities dropped their target price on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Insider Transactions at Bentley Systems

In related 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 transaction of $557,324.04. Following the transaction, the executive now owns 68,064 shares in the company, valued at $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.56% of the company’s stock.

Bentley Systems Trading Down 0.4%

Shares of NASDAQ BSY opened at $47.78 on Monday. The firm’s 50 day moving average price is $43.99 and its 200-day moving average price is $45.41. The company has a market cap of $13.94 billion, a PE ratio of 43.05, 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 $52.42. 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) last issued its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $370.54 million for 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 business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, equities research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.28 annualized dividend and a dividend yield of 0.59%. Bentley Systems’s dividend payout ratio is presently 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.