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

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays decreased their target price on 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. Mizuho cut their price target on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Bank of America began coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Oppenheimer lowered their target price on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $45.00 in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Bentley Systems Stock Performance

The firm has a market cap of $8.39 billion, a P/E ratio of 32.63, a PEG ratio of 1.86 and a beta of 1.00. 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 company’s 50-day moving average is $32.36 and its two-hundred day moving average is $35.40.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. As a group, equities analysts predict that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Bentley Systems Announces Dividend

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

Hedge Funds Weigh In On Bentley Systems

Large investors have recently bought and sold shares of the stock. Swedbank AB boosted its holdings in Bentley Systems by 4.8% during the 1st quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock worth $316,080,000 after acquiring an additional 410,799 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Bentley Systems by 253.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock valued at $167,924,000 after purchasing an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock valued at $163,703,000 after purchasing an additional 2,803,241 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Bentley Systems by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock worth $132,060,000 after purchasing an additional 216,257 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Bentley Systems by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after purchasing an additional 259,780 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

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.