Bentley Systems (NASDAQ:BSY) Sets New 1-Year Low After Analyst Downgrade

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price reached a new 52-week low during trading on Thursday after The Goldman Sachs Group downgraded the stock from a neutral rating to a sell rating. The Goldman Sachs Group now has a $42.00 price target on the stock, down from their previous price target of $51.00. Bentley Systems traded as low as $43.75 and last traded at $43.99, with a volume of 373842 shares traded. The stock had previously closed at $44.62.

Other analysts also recently issued research reports about the company. Robert W. Baird cut their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Piper Sandler lowered 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 report on Wednesday, January 8th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $56.14.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

Large investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in Bentley Systems during the 3rd quarter valued at about $30,000. Private Trust Co. NA grew its stake 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 during the last quarter. Tobam acquired a new position in shares of Bentley Systems in the 4th quarter worth approximately $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems in the 4th quarter worth approximately $55,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Bentley Systems in the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

The company’s 50 day moving average price is $46.46 and its 200-day moving average price is $48.30. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 3.52 and a beta of 1.03. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s payout ratio is currently 38.36%.

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.