Voloridge Investment Management LLC Has $15.14 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Voloridge Investment Management LLC boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 187.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 324,175 shares of the company’s stock after acquiring an additional 211,476 shares during the period. Voloridge Investment Management LLC owned 0.11% of Bentley Systems worth $15,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSY. Swedbank AB boosted its stake in shares of Bentley Systems by 36.5% in 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 lifted its holdings in Bentley Systems by 41.9% in the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after buying an additional 736,369 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Bentley Systems by 591.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock valued at $26,446,000 after acquiring an additional 475,361 shares during the last quarter. Sone Capital Management LLC acquired a new stake in Bentley Systems during the 4th quarter worth $17,884,000. Finally, BLI Banque de Luxembourg Investments bought a new stake in shares of Bentley Systems during the 4th quarter valued at $14,929,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Price Performance

Shares of BSY opened at $47.42 on Friday. The stock has a 50 day simple moving average of $43.40 and a 200 day simple moving average of $45.51. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $53.47. 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 firm has a market capitalization of $13.84 billion, a PE ratio of 42.72, a P/E/G ratio of 3.52 and a beta of 1.05.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating 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 company 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 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive now owns 68,064 shares in the company, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 20.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Rosenblatt Securities reduced their target price on Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Robert W. Baird lowered their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Mizuho cut their price target on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $51.00 to $42.00 in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.