Bentley Systems (NASDAQ:BSY) Sets New 52-Week Low – What’s Next?

Bentley Systems, Incorporated (NASDAQ:BSY) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $30.28 and last traded at $30.57, with a volume of 2690875 shares traded. The stock had previously closed at $32.45.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BSY shares. Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Barclays reduced their price objective on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. UBS Group reduced their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.00.

Bentley Systems Stock Down 5.8%

The firm has a 50 day moving average price of $33.25 and a two-hundred day moving average price of $36.28. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 34.74, a P/E/G ratio of 2.10 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to the consensus estimate 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 was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 1.19 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is 31.82%.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in shares of Bentley Systems during the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 627 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in shares of Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares during the last quarter. Royal London Asset Management Ltd. purchased a new position in shares of Bentley Systems during the 4th quarter valued at approximately $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new position in shares of Bentley Systems during the 4th quarter valued at approximately $34,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

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.