Bentley Systems (NASDAQ:BSY) Sets New 12-Month Low – Time to Sell?

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) reached a new 52-week low during trading on Wednesday . The stock 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

BSY has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. BNP Paribas Exane assumed coverage on Bentley Systems in a research report on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price on the stock. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Finally, Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Bentley Systems Price Performance

The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 1.87 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 simple moving average is $32.53 and its 200-day simple moving average is $35.60.

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

Bentley Systems Dividend Announcement

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

Hedge Funds Weigh In On Bentley Systems

Large investors have recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in shares of Bentley Systems by 54,633.0% during the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock valued at $11,384,000 after acquiring an additional 297,750 shares in the last quarter. Aviso Financial Inc. purchased a new stake in Bentley Systems during the 3rd quarter worth approximately $930,000. Fisher Asset Management LLC raised its holdings in Bentley Systems by 22.0% in the third quarter. Fisher Asset Management LLC now owns 171,805 shares of the company’s stock valued at $8,845,000 after acquiring an additional 30,972 shares in the last quarter. Retirement Systems of Alabama acquired a new position in Bentley Systems in the fourth quarter worth about $6,822,000. Finally, William Blair Investment Management LLC acquired a new position in shares of Bentley Systems in the 3rd quarter worth approximately $150,903,000. 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.