Bentley Systems (NASDAQ:BSY) Sets New 52-Week Low – Here’s Why

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $38.60 and last traded at $38.66, with a volume of 130288 shares changing hands. The stock had previously closed at $40.22.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of recent analyst reports. UBS Group started coverage on shares of Bentley Systems in a report on Monday, March 31st. They issued a “neutral” rating and a $48.00 price objective for the company. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Piper Sandler lowered their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Robert W. Baird dropped their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.13.

Bentley Systems Stock Performance

The business has a 50-day simple moving average of $43.85 and a 200 day simple moving average of $46.84. The firm has a market cap of $11.27 billion, a PE ratio of 34.83, a PEG ratio of 3.52 and a beta of 1.06. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.72%. Bentley Systems’s dividend payout ratio is 38.36%.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors have recently bought and sold shares of BSY. Charles Schwab Investment Management Inc. lifted its stake in Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock worth $49,161,000 after purchasing an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Bentley Systems in the fourth quarter worth about $809,000. Principal Financial Group Inc. boosted its stake in Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after buying an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management purchased a new position in Bentley Systems during the 4th quarter valued at approximately $8,413,000. Finally, Bank of New York Mellon Corp increased its stake in Bentley Systems by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock worth $49,211,000 after acquiring an additional 97,950 shares during the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.