Bentley Systems (NASDAQ:BSY) Sets New 52-Week Low – Here’s Why

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 traded. The stock had previously closed at $40.36.

Analysts Set New Price Targets

Several research firms have recently commented on BSY. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Tuesday, February 25th. Robert W. Baird dropped 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. The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and reduced their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Piper Sandler dropped their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. One 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Trading Down 1.8 %

The company has a market capitalization of $11.56 billion, a P/E ratio of 35.73, a PEG ratio of 3.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The business’s 50-day moving average price is $44.58 and its two-hundred day moving average price is $47.22.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. The ex-dividend date 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 payout ratio is currently 38.36%.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Bentley Systems during the 4th quarter worth approximately $2,392,000. Siemens Fonds Invest GmbH bought a new position in shares of Bentley Systems in the fourth quarter valued at $391,000. Ameriflex Group Inc. acquired a new position in Bentley Systems during the fourth quarter worth $75,000. Cache Advisors LLC bought a new stake in Bentley Systems during the fourth quarter worth $293,000. Finally, Voloridge Investment Management LLC lifted its stake in Bentley Systems by 187.6% in the fourth quarter. Voloridge Investment Management LLC now owns 324,175 shares of the company’s stock valued at $15,139,000 after acquiring an additional 211,476 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.