11,350 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Purchased by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,350 shares of the software's stock, valued at approximately $1,084,000.

A number of other institutional investors also recently modified their holdings of the company. Conestoga Capital Advisors LLC raised its position in shares of Altair Engineering by 1.4% during the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software's stock worth $240,929,000 after purchasing an additional 33,985 shares during the period. William Blair Investment Management LLC bought a new stake in Altair Engineering during the second quarter worth $91,589,000. Bank of New York Mellon Corp grew its holdings in Altair Engineering by 121.7% during the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software's stock worth $55,818,000 after buying an additional 312,448 shares in the last quarter. Candriam S.C.A. grew its holdings in Altair Engineering by 28.9% during the second quarter. Candriam S.C.A. now owns 560,565 shares of the software's stock worth $54,978,000 after buying an additional 125,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Altair Engineering by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 513,695 shares of the software's stock worth $50,384,000 after buying an additional 37,114 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group downgraded Altair Engineering from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Needham & Company LLC reiterated a "hold" rating and set a $100.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities upped their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. William Blair reiterated a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $100.71.

Altair Engineering Stock Performance

NASDAQ:ALTR traded up $0.02 during trading on Thursday, reaching $105.42. The company's stock had a trading volume of 382,520 shares, compared to its average volume of 589,104. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 277.43, a price-to-earnings-growth ratio of 12.17 and a beta of 1.44. Altair Engineering Inc. has a 12 month low of $70.07 and a 12 month high of $113.12. The firm has a 50 day moving average of $100.06 and a 200-day moving average of $94.30.

Insider Transactions at Altair Engineering

In other news, Director Teresa A. Harris sold 620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total transaction of $55,614.00. Following the completion of the transaction, the director now owns 21,242 shares in the company, valued at approximately $1,905,407.40. This represents a 2.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravi Kunju sold 360 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $103.65, for a total value of $37,314.00. Following the sale, the insider now directly owns 30,305 shares in the company, valued at $3,141,113.25. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 343,044 shares of company stock worth $33,980,921. 21.75% of the stock is owned by company insiders.

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.