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

Bentley Systems, Incorporated (NASDAQ:BSY)’s share price hit a new 52-week low on Thursday . The company traded as low as $29.23 and last traded at $29.34, with a volume of 4129001 shares traded. The stock had previously closed at $30.17.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BSY. UBS Group cut their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Barclays cut their price target on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, May 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $45.00 in a report on Friday, May 8th. Finally, Bank of America began coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.00.

Bentley Systems Stock Performance

The firm has a market cap of $8.58 billion, a P/E ratio of 33.34, a P/E/G ratio of 1.96 and a beta of 1.00. 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 company’s 50 day moving average is $32.89 and its 200 day moving average is $35.97.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating 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 net margin of 18.12% and a return on equity of 28.65%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities analysts predict that Bentley Systems, Incorporated will post 1.19 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a yield of 1.0%. Bentley Systems’s dividend payout ratio is presently 31.82%.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new position in Bentley Systems in the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased 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 acquiring an additional 627 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Bentley Systems in the 3rd quarter valued at approximately $37,000. IFP Advisors Inc increased 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 acquiring an additional 485 shares during the period. Finally, Physician Wealth Advisors Inc. increased 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 acquiring an additional 352 shares during the period. 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.