Bentley Systems (NASDAQ:BSY) Hits New 1-Year Low – Here’s Why

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $41.96 and last traded at $42.22, with a volume of 1703843 shares traded. The stock had previously closed at $42.83.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Robert W. Baird cut their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, Piper Sandler cut their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.14.

Bentley Systems Stock Down 1.4 %

The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 3.52 and a beta of 1.03. The business has a fifty day moving average of $46.24 and a 200 day moving average of $48.17. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. Bentley Systems’s dividend payout ratio is currently 38.36%.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the sale, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently modified their holdings of BSY. Swedbank AB grew its stake in shares of Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Bentley Systems by 94.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock valued at $584,000 after acquiring an additional 5,596 shares in the last quarter. Stephens Inc. AR boosted its stake in Bentley Systems by 14.4% in the third quarter. Stephens Inc. AR now owns 8,971 shares of the company’s stock valued at $456,000 after acquiring an additional 1,130 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Bentley Systems by 0.8% in the third quarter. Janney Montgomery Scott LLC now owns 205,997 shares of the company’s stock valued at $10,467,000 after acquiring an additional 1,721 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Bentley Systems by 88.2% in the third quarter. Harbor Capital Advisors Inc. now owns 49,122 shares of the company’s stock valued at $2,496,000 after acquiring an additional 23,022 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.