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

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $31.71 and last traded at $31.79, with a volume of 2557528 shares trading hands. The stock had previously closed at $34.24.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, January 21st. Piper Sandler dropped their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. cut their price objective on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Robert W. Baird set a $55.00 price objective on Bentley Systems in a research note on Wednesday, January 7th. Finally, Barclays decreased their target price on Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, January 12th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Bentley Systems Stock Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. The company has a 50 day simple moving average of $39.37 and a 200-day simple moving average of $47.47. The stock has a market capitalization of $9.28 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 2.37 and a beta of 1.21.

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

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, December 4th. Bentley Systems’s dividend payout ratio (DPR) is currently 33.33%.

Institutional Trading of Bentley Systems

A number of institutional investors have recently modified their holdings of BSY. Manning & Napier Advisors LLC bought a new position in shares of Bentley Systems in the third quarter worth approximately $122,028,000. Rakuten Investment Management Inc. bought a new stake in Bentley Systems during the third quarter valued at approximately $4,305,000. AGF Management Ltd. grew its stake in 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 buying an additional 70,650 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Bentley Systems by 90.8% in the 3rd quarter. Pacer Advisors Inc. now owns 676,740 shares of the company’s stock worth $34,839,000 after buying an additional 322,012 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. increased its holdings in shares of Bentley Systems by 66.2% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 78,808 shares of the company’s stock worth $4,244,000 after buying an additional 31,402 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other 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.