Bentley Systems (NASDAQ:BSY) Sets New 12-Month Low – Here’s What Happened

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $30.55 and last traded at $32.3720, with a volume of 15023 shares. The stock had previously closed at $32.07.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Rosenblatt Securities reduced their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Zacks Research raised Bentley Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Oppenheimer reduced their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, Robert W. Baird set a $55.00 price objective on Bentley Systems in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Bentley Systems Trading Up 4.9%

The stock has a market cap of $9.81 billion, a P/E ratio of 39.11, a P/E/G ratio of 2.23 and a beta of 1.01. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $35.55 and a two-hundred day moving average price of $38.97.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, research analysts expect that Bentley Systems, Incorporated will post 1.23 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Bentley Systems’s payout ratio is currently 32.56%.

Hedge Funds Weigh In On Bentley Systems

Several large investors have recently modified their holdings of the stock. Shell Asset Management Co. increased its position in shares of Bentley Systems by 4.8% during the 3rd quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock valued at $279,000 after purchasing an additional 246 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Bentley Systems by 2.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock valued at $589,000 after acquiring an additional 247 shares during the period. BLB&B Advisors LLC boosted its holdings in Bentley Systems by 0.5% during the 3rd quarter. BLB&B Advisors LLC now owns 52,361 shares of the company’s stock valued at $2,696,000 after acquiring an additional 261 shares during the period. Lansforsakringar Fondforvaltning AB publ boosted its holdings in Bentley Systems by 0.6% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock valued at $2,560,000 after acquiring an additional 275 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in Bentley Systems by 6.5% during the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock valued at $251,000 after acquiring an additional 296 shares during the period. Institutional investors own 44.16% of the company’s stock.

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.