Bentley Systems (NASDAQ:BSY) Stock Price Down 4.4% – Time to Sell?

Bentley Systems, Incorporated (NASDAQ:BSY)’s share price traded down 4.4% during mid-day trading on Wednesday . The stock traded as low as $36.04 and last traded at $35.5210. 462,794 shares traded hands during trading, a decline of 85% from the average session volume of 3,145,014 shares. The stock had previously closed at $37.14.

Analysts Set New Price Targets

BSY has been the topic of a number of analyst reports. UBS Group cut their price target on shares of Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Piper Sandler cut their target price on shares of Bentley Systems from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Rosenblatt Securities reduced their price target on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Oppenheimer decreased their price target on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bentley Systems has an average rating of “Hold” and an average target price of $48.50.

Bentley Systems Stock Down 4.7%

The company has a 50-day moving average of $36.47 and a two-hundred day moving average of $42.75. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $10.31 billion, a PE ratio of 41.15, a P/E/G ratio of 2.57 and a beta of 1.18.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $391.58 million for the quarter, compared to the consensus estimate of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s dividend payout ratio is presently 32.56%.

Institutional Trading of Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Thrive Wealth Management LLC boosted its holdings in Bentley Systems by 2.5% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the period. Genesis Private Wealth LLC increased its stake in Bentley Systems by 5.4% in the 3rd quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock worth $204,000 after buying an additional 204 shares in the last quarter. Shell Asset Management Co. raised its holdings in Bentley Systems by 4.8% during the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock valued at $279,000 after acquiring an additional 246 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Bentley Systems by 2.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock valued at $589,000 after acquiring an additional 247 shares in the last quarter. Finally, BLB&B Advisors LLC lifted its position in shares of Bentley Systems by 0.5% in the third quarter. BLB&B Advisors LLC now owns 52,361 shares of the company’s stock valued at $2,696,000 after acquiring an additional 261 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

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.