Bentley Systems (NASDAQ:BSY) Hits New 1-Year Low – What’s Next?

Bentley Systems, Incorporated (NASDAQ:BSY)’s share price reached a new 52-week low on Thursday . The company traded as low as $30.55 and last traded at $32.3720, with a volume of 15023 shares. The stock had previously closed at $32.07.

Bentley Systems News Summary

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Bentley Systems reported Q1 earnings of $0.38 per share, beating estimates of $0.36, while revenue of $424.2 million also topped expectations. Sales rose 14.5% year over year, suggesting continued healthy demand for the company’s software. Earnings transcript
• Positive Sentiment: Mizuho kept an outperform rating on Bentley Systems and still sees upside from current levels, which may help support sentiment despite the lower target. Benzinga report
• Neutral Sentiment: The company’s earnings call transcript and presentation are in focus as investors look for commentary on growth trends, margins, and full-year guidance following the report. Yahoo Finance transcript
• Negative Sentiment: Mizuho lowered its price target on Bentley Systems from $50 to $45, a sign that analysts are becoming slightly more cautious about the stock’s near-term valuation. Mizuho price-target update

Wall Street Analyst Weigh In

BSY has been the topic of a number of research reports. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. 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. UBS Group reduced their target price on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. 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, Weiss Ratings downgraded shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and an average price target of $48.33.

Bentley Systems Stock Performance

The company has a current ratio of 0.51, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $35.58 and its 200 day moving average is $38.84. The stock has a market capitalization of $9.56 billion, a PE ratio of 37.23, a PEG ratio of 2.26 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. During the same period in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts predict that Bentley Systems, Incorporated will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems’s payout ratio is currently 31.82%.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Bentley Systems by 154.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,314 shares of the company’s stock worth $292,000 after purchasing an additional 5,052 shares during the period. Madison Asset Management LLC purchased a new position in shares of Bentley Systems during the 1st quarter worth about $34,466,000. Dimensional Fund Advisors LP grew its stake in Bentley Systems by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,327,900 shares of the company’s stock worth $46,628,000 after acquiring an additional 143,863 shares in the last quarter. Parallel Advisors LLC grew its stake in Bentley Systems by 49.5% in the 1st quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock worth $86,000 after acquiring an additional 810 shares in the last quarter. Finally, SEB Asset Management AB bought a new position in Bentley Systems in the 1st quarter worth about $22,581,000. 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.