Bentley Systems, Incorporated (NASDAQ:BSY – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $30.28 and last traded at $30.57, with a volume of 2690875 shares changing hands. The stock had previously closed at $32.45.
Wall Street Analyst Weigh In
BSY has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 target price on the stock. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $42.00 to $45.00 in a report on Friday, May 8th. Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Oppenheimer lowered their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.00.
Get Our Latest Research Report on BSY
Bentley Systems Price Performance
Bentley Systems (NASDAQ:BSY – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. During the same period in the previous year, the business posted $0.35 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts expect that Bentley Systems, Incorporated will post 1.19 earnings per share for the current year.
Bentley Systems Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.
Institutional Trading of Bentley Systems
Several hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in shares of Bentley Systems by 49.5% in the 1st quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock worth $86,000 after purchasing an additional 810 shares during the last quarter. Groupama Asset Managment lifted its holdings in shares of Bentley Systems by 38.0% in the 1st quarter. Groupama Asset Managment now owns 14,821 shares of the company’s stock worth $521,000 after purchasing an additional 4,085 shares during the last quarter. Groupe la Francaise lifted its holdings in shares of Bentley Systems by 76.3% in the 1st quarter. Groupe la Francaise now owns 109,266 shares of the company’s stock worth $3,830,000 after purchasing an additional 47,273 shares during the last quarter. Liontrust Investment Partners LLP increased its holdings in shares of Bentley Systems by 7.4% in the 1st quarter. Liontrust Investment Partners LLP now owns 7,349 shares of the company’s stock worth $258,000 after acquiring an additional 505 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Bentley Systems by 999.5% in the 1st quarter. Janus Henderson Group PLC now owns 75,500 shares of the company’s stock worth $2,652,000 after acquiring an additional 68,633 shares during the period. Institutional investors own 44.16% of the company’s stock.
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.
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