Bentley Systems (NASDAQ:BSY) Sets New 1-Year Low – Should You Sell?

Bentley Systems, Incorporated (NASDAQ:BSY)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $35.39 and last traded at $35.6270, with a volume of 446828 shares traded. The stock had previously closed at $37.35.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BSY shares. Royal Bank Of Canada decreased their price target on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Robert W. Baird set a $55.00 target price on Bentley Systems in a research report on Wednesday, January 7th. Piper Sandler dropped their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, January 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.00.

Bentley Systems Trading Down 6.9%

The firm has a market cap of $10.16 billion, a P/E ratio of 41.38, a PEG ratio of 2.57 and a beta of 1.21. The company’s 50 day moving average is $39.91 and its two-hundred day moving average is $48.20. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The firm had revenue of $375.55 million during the quarter, compared to analysts’ expectations of $369.57 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s payout ratio is currently 33.33%.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its position in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Bentley Systems by 10.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,956 shares of the company’s stock valued at $606,000 after purchasing an additional 1,079 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Bentley Systems during the second quarter valued at approximately $323,000. GAMMA Investing LLC grew its stake in shares of Bentley Systems by 114.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,053 shares of the company’s stock valued at $57,000 after purchasing an additional 562 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Bentley Systems by 13.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 48,870 shares of the company’s stock worth $2,638,000 after buying an additional 5,723 shares in 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.