Bentley Systems, Incorporated (NASDAQ:BSY – Get Free Report)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $30.82 and last traded at $30.6650, with a volume of 1273887 shares. The stock had previously closed at $32.67.
Analyst Upgrades and Downgrades
BSY has been the subject of several research reports. Bank of America began coverage on shares of Bentley Systems in a report on Tuesday. They issued a “buy” rating and a $40.00 price target for the company. UBS Group cut their target price on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Finally, Mizuho cut their price target on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.69.
Bentley Systems Stock Down 4.3%
Bentley Systems (NASDAQ:BSY – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 1.23 earnings per share for the current year.
Bentley Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were issued a $0.07 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Bentley Systems’s dividend payout ratio is 31.82%.
Institutional Investors Weigh In On Bentley Systems
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after purchasing an additional 1,792,591 shares in the last quarter. Swedbank AB raised its holdings in shares of Bentley Systems by 4.8% in the 1st quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock worth $316,080,000 after purchasing an additional 410,799 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Bentley Systems by 150.9% during the first 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 during the last quarter. Geode Capital Management LLC lifted its stake in Bentley Systems by 6.6% during the fourth 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Bentley Systems by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after buying an additional 259,780 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.
Bentley Systems Company Profile
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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