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

Bentley Systems, Incorporated (NASDAQ:BSY)’s share price reached a new 52-week low on Friday . The company traded as low as $38.60 and last traded at $38.66, with a volume of 130288 shares. The stock had previously closed at $40.22.

Analyst Ratings Changes

BSY has been the subject of a number of analyst reports. UBS Group assumed coverage on shares of Bentley Systems in a report on Monday, March 31st. They issued a “neutral” rating and a $48.00 price target for the company. Robert W. Baird lowered their price objective 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. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $51.00 to $42.00 in a report on Friday, February 28th. JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective 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, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.13.

Bentley Systems Stock Down 3.9 %

The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a 50-day simple moving average of $43.85 and a 200 day simple moving average of $46.84. The company has a market cap of $11.27 billion, a P/E ratio of 34.83, a P/E/G ratio of 3.52 and a beta of 1.06.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.72%. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. The trade was a 0.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors have recently made changes to their positions in BSY. Lansforsakringar Fondforvaltning AB publ bought a new position in Bentley Systems during the 4th quarter worth about $2,392,000. Siemens Fonds Invest GmbH purchased a new stake in shares of Bentley Systems in the 4th quarter worth approximately $391,000. Ameriflex Group Inc. bought a new position in shares of Bentley Systems during the fourth quarter valued at approximately $75,000. Cache Advisors LLC purchased a new position in Bentley Systems during the fourth quarter valued at approximately $293,000. Finally, Voloridge Investment Management LLC raised 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 worth $15,139,000 after buying an additional 211,476 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

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.