Bentley Systems (NASDAQ:BSY) Sets New 52-Week Low – Time to Sell?

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $40.98 and last traded at $41.14, with a volume of 2350010 shares. The stock had previously closed at $43.02.

Wall Street Analyst Weigh In

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

Bentley Systems Price Performance

The firm’s fifty day simple moving average is $45.84 and its 200 day simple moving average is $47.97. The firm has a market cap of $12.00 billion, a P/E ratio of 37.06, a P/E/G ratio of 3.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is 38.36%.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BSY. Swedbank AB lifted its holdings in shares of Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after acquiring an additional 1,000,000 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Bentley Systems by 13.3% in the 3rd quarter. Van ECK Associates Corp now owns 33,096 shares of the company’s stock valued at $1,628,000 after acquiring an additional 3,890 shares during the last quarter. Impax Asset Management Group plc bought a new position in shares of Bentley Systems in the 3rd quarter valued at about $88,771,000. Principal Financial Group Inc. lifted its holdings in shares of Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after acquiring an additional 34,871 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Bentley Systems by 61.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 8,743 shares of the company’s stock valued at $444,000 after acquiring an additional 3,329 shares during the last quarter. Institutional investors 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.