Bentley Systems (NASDAQ:BSY) Hits New 52-Week Low – Here’s What Happened

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $39.91 and last traded at $40.08, with a volume of 236786 shares trading hands. The stock had previously closed at $40.36.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BSY. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday, February 25th. Piper Sandler reduced their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Finally, Robert W. Baird reduced their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Stock Down 1.6 %

The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 3.52 and a beta of 1.04. The firm’s 50-day moving average price is $44.46 and its 200 day moving average price is $47.17.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.71%. Bentley Systems’s dividend payout ratio (DPR) is 38.36%.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the transaction, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently bought and sold shares of BSY. Intech Investment Management LLC boosted its position in Bentley Systems by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after buying an additional 254 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Bentley Systems by 3.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after purchasing an additional 317 shares during the period. Quantinno Capital Management LP increased its holdings in Bentley Systems by 7.2% in the fourth quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after purchasing an additional 354 shares during the period. Prudential PLC increased its stake in shares of Bentley Systems by 0.6% in the fourth quarter. Prudential PLC now owns 63,008 shares of the company’s stock valued at $2,942,000 after buying an additional 371 shares during the period. Finally, Private Trust Co. NA increased its position in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after purchasing an additional 378 shares during the period. 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.