Bentley Systems (NASDAQ:BSY) Shares Down 5.6% - Should You Sell?

Key Points

• Bentley Systems shares fell 5.6% to about $33.61, with trading volume down 94% from the average session. Despite the decline, analysts maintain a “Moderate Buy” consensus and an average price target of $45.
• The company’s latest quarter showed mixed results: EPS of $0.35 exceeded estimates of $0.32, while revenue of $410.73 million slightly missed expectations but increased 12.8% year over year.
• Institutional ownership stands at 44.16%, with several major investors increasing their positions, including California State Teachers Retirement System and Arrowstreet Capital.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) was down 5.6% on Friday . The company traded as low as $33.76 and last traded at $33.6140. 164,112 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,868,710 shares. The stock had previously closed at $35.59.

Wall Street Analysts Forecast Growth

BSY has been the topic of several recent research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $50.00 price objective on shares of Bentley Systems in a research note on Monday, August 10th. BNP Paribas Exane started coverage on shares of Bentley Systems in a research report on Thursday, June 18th. They issued an "outperform" rating and a $40.00 price target on the stock. Weiss Ratings upgraded shares of Bentley Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. Barclays lowered their target price on Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Friday, May 29th. Finally, Zacks Research cut Bentley Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Bentley Systems has an average rating of "Moderate Buy" and an average target price of $45.00.

Bentley Systems Stock Down 5.0%

The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a fifty day simple moving average of $34.09 and a two-hundred day simple moving average of $34.02. The firm has a market capitalization of $9.82 billion, a PE ratio of 37.15, a PEG ratio of 2.22 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The company had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. During the same quarter in the previous year, the firm earned $0.32 EPS. Bentley Systems's revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Bentley Systems, Incorporated will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSY. Swedbank AB increased its stake in Bentley Systems by 4.8% during the 1st quarter. Swedbank AB now owns 9,000,000 shares of the company's stock worth $316,080,000 after buying an additional 410,799 shares during the period. California State Teachers Retirement System increased its position in shares of Bentley Systems by 2,805.5% in the 2nd quarter. California State Teachers Retirement System now owns 5,523,672 shares of the company's stock valued at $165,103,000 after purchasing an additional 5,333,560 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Bentley Systems by 253.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company's stock valued at $167,924,000 after purchasing an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Bentley Systems by 150.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company's stock valued at $163,703,000 after purchasing an additional 2,803,241 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Bentley Systems by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company's stock valued at $132,060,000 after purchasing an additional 216,257 shares in the last quarter. Institutional investors and hedge funds 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.

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