Bentley Systems (NASDAQ:BSY) Sets New 1-Year Low – What’s Next?

Bentley Systems, Incorporated (NASDAQ:BSY) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $29.23 and last traded at $29.34, with a volume of 4129001 shares trading hands. The stock had previously closed at $30.17.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Rosenblatt Securities decreased their price target on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Barclays decreased their price target on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. 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. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, UBS Group decreased their price objective on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Hold” and a consensus target price of $47.00.

Bentley Systems Stock Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The company’s 50-day moving average price is $32.89 and its two-hundred day moving average price is $35.97. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 1.96 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company 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 company posted $0.35 earnings per share. Bentley Systems’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.0%. Bentley Systems’s dividend payout ratio is 31.82%.

Institutional Investors Weigh In On Bentley Systems

Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in Bentley Systems in the fourth quarter worth $25,000. Geneos Wealth Management Inc. grew its holdings in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the period. Physician Wealth Advisors Inc. grew its holdings in Bentley Systems by 80.2% in 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 period. Royal London Asset Management Ltd. acquired a new stake in Bentley Systems in the fourth quarter worth $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new stake in Bentley Systems in the fourth quarter worth $34,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

About Bentley Systems

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.