Bentley Systems (NASDAQ:BSY) Stock Price Down 4.4% – Here’s What Happened

Bentley Systems, Incorporated (NASDAQ:BSY) shares traded down 4.4% on Wednesday . The stock traded as low as $36.04 and last traded at $35.5210. 462,794 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 3,145,014 shares. The stock had previously closed at $37.14.

Analyst Ratings Changes

A number of brokerages recently issued reports on BSY. Royal Bank Of Canada dropped their target price on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, January 21st. Rosenblatt Securities dropped their price objective on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. UBS Group cut their target price on shares of Bentley Systems from $60.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, Barclays boosted their target price on Bentley Systems from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bentley Systems has a consensus rating of “Hold” and an average target price of $48.50.

Bentley Systems Trading Up 3.2%

The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. The stock has a market cap of $10.55 billion, a P/E ratio of 42.09, a price-to-earnings-growth ratio of 2.39 and a beta of 1.18. The business’s fifty day simple moving average is $36.33 and its 200 day simple moving average is $42.65.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The company had revenue of $391.58 million during the quarter, compared to the consensus estimate of $381.79 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. As a group, analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s payout ratio is 32.56%.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its stake in shares of Bentley Systems by 104.8% during the fourth quarter. Hsbc Holdings PLC now owns 139,008 shares of the company’s stock valued at $5,325,000 after acquiring an additional 71,128 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Bentley Systems by 206.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,557 shares of the company’s stock valued at $441,000 after acquiring an additional 7,786 shares during the last quarter. Larry Mathis Financial Planning LLC acquired a new stake in Bentley Systems in the fourth quarter worth about $310,000. Caitong International Asset Management Co. Ltd increased its position in Bentley Systems by 685.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,719 shares of the company’s stock worth $218,000 after purchasing an additional 4,991 shares during the period. Finally, Groupama Asset Managment raised its holdings in Bentley Systems by 42.3% during the 4th quarter. Groupama Asset Managment now owns 10,736 shares of the company’s stock worth $410,000 after purchasing an additional 3,194 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.