Bentley Systems (NASDAQ:BSY) Reaches New 1-Year Low - Should You Sell?

Key Points

• Bentley Systems hit a new 52-week low of $30.83 and last traded at $31.30 on volume of about 2.72M shares, trading well below its 50-day ($35.55) and 200-day ($41.21) moving averages.
• Analysts' consensus rating is a Hold with a $48.50 target after several recent price-target cuts; current coverage includes 7 Buys, 5 Holds and 1 Sell.
• Recent quarter: EPS of $0.27 met estimates and revenue of $391.6M beat expectations (up 11.9% YoY); the company pays a quarterly dividend of $0.07 (annualized yield ~0.9%).

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Saturday . The stock traded as low as $30.83 and last traded at $31.30, with a volume of 2723347 shares traded. The stock had previously closed at $33.45.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BSY shares. Royal Bank Of Canada lowered their price target on shares of Bentley Systems from $65.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, January 5th. Piper Sandler lowered their price target on shares of Bentley Systems from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Monday, March 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Bentley Systems in a report on Wednesday, January 21st. Mizuho dropped their target price on shares of Bentley Systems from $62.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Bentley Systems in a research note on Monday, March 2nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $48.50.

Bentley Systems Stock Performance

The stock has a market cap of $9.12 billion, a P/E ratio of 36.40, a P/E/G ratio of 2.25 and a beta of 1.16. The company has a fifty day moving average price of $35.55 and a 200 day moving average price of $41.21. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.56.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.27. The company had revenue of $391.58 million for the quarter, compared to analysts' expectations of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.Bentley Systems's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. On average, equities analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 10th. Bentley Systems's payout ratio is 32.56%.

Institutional Trading of Bentley Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of BSY. William Blair Investment Management LLC bought a new stake in Bentley Systems during the 3rd quarter valued at $150,903,000. Manning & Napier Advisors LLC bought a new stake in Bentley Systems during the 3rd quarter valued at $122,028,000. Norges Bank bought a new stake in Bentley Systems during the 4th quarter valued at $68,766,000. Vanguard Group Inc. increased its stake in Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company's stock valued at $957,922,000 after purchasing an additional 1,792,591 shares in the last quarter. Finally, Swedbank AB increased its stake in Bentley Systems by 18.5% during the 4th quarter. Swedbank AB now owns 8,589,201 shares of the company's stock valued at $327,807,000 after purchasing an additional 1,338,706 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

About Bentley Systems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.