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 on Wednesday . The stock traded as low as $41.96 and last traded at $42.22, with a volume of 1703843 shares changing hands. The stock had previously closed at $42.83.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BSY shares. Robert W. Baird dropped their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Piper Sandler dropped their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Oppenheimer lowered Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Bentley Systems Trading Down 1.4 %

The stock has a market capitalization of $12.31 billion, a PE ratio of 38.04, a P/E/G ratio of 3.52 and a beta of 1.03. 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 stock has a 50 day moving average price of $46.24 and a 200-day moving average price of $48.17.

Bentley Systems Increases Dividend

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

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 21.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in Bentley Systems during the 3rd quarter valued at $30,000. Private Trust Co. NA boosted its position in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares in the last quarter. Tobam acquired a new stake in shares of Bentley Systems in the 4th quarter worth $55,000. Atala Financial Inc acquired a new stake in shares of Bentley Systems in the 4th quarter worth $55,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Bentley Systems in the 4th quarter worth $75,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Company Profile

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.