Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 382.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,202 shares of the software’s stock after buying an additional 50,102 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.07% of Altair Engineering worth $6,896,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Altair Engineering by 3.3% during the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after buying an additional 65,589 shares during the period. Geode Capital Management LLC lifted its position in shares of Altair Engineering by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Altair Engineering during the 4th quarter worth $62,142,000. Charles Schwab Investment Management Inc. increased its holdings in Altair Engineering by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock valued at $48,277,000 after buying an additional 42,592 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after buying an additional 85,303 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $100.83.

Insider Activity at Altair Engineering

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 directly owns 55,519 shares of the company’s stock, valued at $6,046,019.10. This represents a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa A. Harris sold 2,700 shares of the company’s 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 sale, the director now directly owns 18,542 shares of the company’s stock, valued at approximately $2,069,472.62. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,220 shares of company stock valued at $1,470,974 in the last three months. 21.75% of the stock is currently owned by company insiders.

Altair Engineering Stock Up 0.2 %

Shares of NASDAQ ALTR opened at $111.75 on Friday. The stock has a market cap of $9.59 billion, a PE ratio of 657.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The business has a 50-day moving average price of $110.91 and a 200 day moving average price of $104.62.

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 firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

About Altair Engineering

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.