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

Bentley Systems, Incorporated (NASDAQ:BSY) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $28.37 and last traded at $28.45, with a volume of 3493665 shares trading hands. The stock had previously closed at $28.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Rosenblatt Securities dropped their target price on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Mizuho cut their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, UBS Group dropped their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Bentley Systems Stock Down 1.5%

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average price is $32.53 and its 200 day moving average price is $35.60. The company has a market capitalization of $8.32 billion, a P/E ratio of 32.33, a P/E/G ratio of 1.87 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. During the same period in the prior year, the firm posted $0.35 EPS. Bentley Systems’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 1.19 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s payout ratio is currently 31.82%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in shares of Bentley Systems in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bentley Systems in the 3rd quarter valued at about $37,000. IFP Advisors Inc lifted its stake in Bentley Systems by 174.5% in the 3rd quarter. IFP Advisors Inc now owns 763 shares of the company’s stock valued at $39,000 after acquiring an additional 485 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its holdings in Bentley Systems by 80.2% during the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after purchasing an additional 352 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.