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

Bentley Systems, Incorporated (NASDAQ:BSY) hit a new 52-week low during trading on Wednesday . The company traded as low as $30.82 and last traded at $30.6650, with a volume of 1273887 shares changing hands. The stock had previously closed at $32.67.

Analysts Set New Price Targets

BSY has been the topic of a number of recent research reports. Mizuho dropped their target price on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Rosenblatt Securities decreased their price target on Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Barclays boosted their price target on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, March 6th. Zacks Research raised Bentley Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, Oppenheimer decreased their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.69.

Bentley Systems Trading Up 1.0%

The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 1.96 and a beta of 1.01. The company has a 50 day moving average price of $35.14 and a two-hundred day moving average price of $38.15.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The business 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 business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. On average, research analysts forecast that Bentley Systems, Incorporated will post 1.23 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th 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 of this dividend was Tuesday, March 10th. Bentley Systems’s dividend payout ratio is presently 31.82%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Shell Asset Management Co. raised its stake 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 worth $279,000 after buying an additional 246 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Bentley Systems by 2.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock worth $589,000 after purchasing an additional 247 shares in the last quarter. BLB&B Advisors LLC increased its position in shares of Bentley Systems by 0.5% during the third quarter. BLB&B Advisors LLC now owns 52,361 shares of the company’s stock worth $2,696,000 after purchasing an additional 261 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ increased its position in shares of Bentley Systems by 0.6% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock worth $2,560,000 after purchasing an additional 275 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in shares of Bentley Systems by 6.5% during the third quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock worth $251,000 after purchasing an additional 296 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.