Altair Engineering Inc. (NASDAQ:ALTR) Stake Raised by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 137.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,956 shares of the software’s stock after buying an additional 15,606 shares during the period. Intech Investment Management LLC’s holdings in Altair Engineering were worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. NBT Bank N A NY raised its holdings in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the last quarter. UMB Bank n.a. boosted its stake in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the period. Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after buying an additional 536 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after buying an additional 249 shares during the period. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Up 0.2 %

Shares of Altair Engineering stock opened at $111.67 on Thursday. The stock’s fifty day moving average is $110.86 and its 200-day moving average is $104.30. The firm has a market capitalization of $9.58 billion, a PE ratio of 656.88, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Insider Activity at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of Altair Engineering stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares in the company, valued at $2,069,472.62. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,220 shares of company stock valued at $1,470,974. Corporate insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALTR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $100.83.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.