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

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) shares hit a new 52-week low 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 changing hands. The stock had previously closed at $44.62.

BSY has been the subject of several other reports. Robert W. Baird reduced their price target on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday. Oppenheimer cut shares of Bentley Systems from an "outperform" rating to a "market perform" rating in a research note on Thursday. Piper Sandler decreased their target price 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. Rosenblatt Securities restated a "buy" rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a "neutral" rating and a $52.00 price objective for the company. 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's stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.14.

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Insider Buying and Selling

In related news, Director Keith A. Bentley sold 69,573 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now owns 16,705,028 shares of the company's stock, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BSY. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems in the third quarter worth $30,000. Private Trust Co. NA grew its position in 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 bought a new position in shares of Bentley Systems during the 4th quarter worth about $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems during the fourth quarter valued at about $55,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Bentley Systems in the fourth quarter valued at about $75,000. 44.16% of the stock is owned by institutional investors.

Bentley Systems Trading Down 2.4 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $12.49 billion, a P/E ratio of 38.59, a PEG ratio of 3.52 and a beta of 1.03. The company's 50 day moving average is $46.46 and its two-hundred day moving average is $48.28.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, March 19th. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is presently 38.36%.

About Bentley Systems

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.