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

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $30.82 and last traded at $30.6650, with a volume of 1273887 shares. The stock had previously closed at $32.67.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of recent research reports. Weiss Ratings cut shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Rosenblatt Securities cut their target price on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Oppenheimer reduced their target price on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.69.

Bentley Systems Stock Performance

The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $35.42 and a 200 day moving average of $38.44.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. During the same period in the prior year, the company posted $0.35 EPS. Bentley Systems’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Bentley Systems, Incorporated will post 1.23 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 10th. Bentley Systems’s dividend payout ratio (DPR) is currently 31.82%.

Institutional Investors Weigh In On Bentley Systems

Institutional investors have recently modified their holdings of the stock. AGF Management Ltd. grew its position in shares of Bentley Systems by 64.2% in the 3rd quarter. AGF Management Ltd. now owns 180,633 shares of the company’s stock worth $9,299,000 after acquiring an additional 70,650 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Bentley Systems during the 3rd quarter valued at approximately $122,028,000. Rakuten Investment Management Inc. acquired a new stake in shares of Bentley Systems during the 3rd quarter valued at approximately $4,305,000. Baillie Gifford & Co. lifted its stake in Bentley Systems by 54,633.0% during the fourth quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after purchasing an additional 297,750 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Bentley Systems by 27.4% during the third quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock worth $127,986,000 after purchasing an additional 534,776 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.