Bentley Systems (NASDAQ:BSY) Shares Down 4.6% – Here’s Why

Bentley Systems, Incorporated (NASDAQ:BSY)’s share price was down 4.6% during mid-day trading on Thursday . The company traded as low as $31.30 and last traded at $30.9660. Approximately 318,100 shares traded hands during trading, a decline of 89% from the average daily volume of 2,818,746 shares. The stock had previously closed at $32.45.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BSY shares. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $45.00 in a report on Friday, May 8th. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Oppenheimer reduced their target price on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Rosenblatt Securities reduced their target price on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, UBS Group decreased their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.00.

Bentley Systems Stock Down 5.2%

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 has a market cap of $8.99 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 2.15 and a beta of 1.00. The firm’s fifty day simple moving average is $33.34 and its 200 day simple moving average is $36.36.

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

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given 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 is Tuesday, June 2nd. Bentley Systems’s payout ratio is currently 31.82%.

Institutional Trading of Bentley Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in Bentley Systems in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. raised its position in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Bentley Systems in the 3rd quarter valued at $37,000. IFP Advisors Inc raised its position in Bentley Systems by 174.5% in the 3rd quarter. IFP Advisors Inc now owns 763 shares of the company’s stock valued at $39,000 after purchasing an additional 485 shares during the last quarter. Finally, Physician Wealth Advisors Inc. raised its position in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after purchasing an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

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.