Bentley Systems (NASDAQ:BSY) Trading Down 4.6% – Should You Sell?

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

Analysts Set New Price Targets

BSY has been the subject of several analyst reports. Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Oppenheimer decreased their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Bank of America initiated coverage on Bentley Systems in a research note on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Mizuho cut their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Bentley Systems presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Bentley Systems Trading Up 0.3%

The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s 50 day moving average price is $33.18 and its 200 day moving average price is $36.24. The stock has a market capitalization of $8.96 billion, a P/E ratio of 34.85, a P/E/G ratio of 1.98 and a beta of 1.00.

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

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio (DPR) is currently 31.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in shares of Bentley Systems by 1,529.3% during 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 in the last quarter. Invesco Ltd. raised its stake in Bentley Systems by 2.6% in the second quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after buying an additional 9,557 shares in the last quarter. First Trust Advisors LP lifted its holdings in Bentley Systems by 97.5% in the second quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock worth $8,670,000 after buying an additional 79,286 shares during the period. Brown Advisory Inc. bought a new stake in Bentley Systems during the 2nd quarter valued at approximately $212,000. Finally, Cresset Asset Management LLC bought a new stake in Bentley Systems during the 2nd quarter valued at approximately $248,000. 44.16% of the stock is 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.