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

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) hit a new 52-week low during trading on Thursday . The stock traded as low as $35.39 and last traded at $35.6270, with a volume of 446828 shares trading hands. The stock had previously closed at $37.35.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. Barclays dropped their target price on shares of 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. Piper Sandler reduced their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. BMO Capital Markets initiated coverage on shares of Bentley Systems in a report on Thursday, January 22nd. They set an “outperform” rating and a $48.00 price objective for the company. Finally, Oppenheimer reduced their target price on Bentley Systems from $65.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Bentley Systems Stock Down 6.9%

The firm’s 50-day moving average is $39.91 and its two-hundred day moving average is $48.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market cap of $10.16 billion, a P/E ratio of 41.38, a PEG ratio of 2.57 and a beta of 1.21.

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

Bentley Systems Announces Dividend

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. The ex-dividend date was Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s dividend payout ratio is presently 33.33%.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors have recently modified their holdings of BSY. William Blair Investment Management LLC bought a new position in Bentley Systems in the third quarter valued at approximately $150,903,000. Manning & Napier Advisors LLC acquired a new stake in shares of Bentley Systems during the third quarter worth $122,028,000. Bank of New York Mellon Corp increased its holdings in Bentley Systems by 207.6% in the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock valued at $165,259,000 after purchasing an additional 2,066,725 shares during the last quarter. Vanguard Group Inc. lifted its stake in Bentley Systems by 10.7% in the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after buying an additional 1,792,591 shares during the period. Finally, Norges Bank bought a new position in Bentley Systems during the second quarter worth about $56,452,000. Institutional investors and hedge funds 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.