Vestcor Inc bought a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 46,046 shares of the software's stock, valued at approximately $5,024,000. Vestcor Inc owned 0.05% of Altair Engineering as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of ALTR. NBT Bank N A NY grew its stake in Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software's stock valued at $27,000 after purchasing an additional 107 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock valued at $31,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software's stock worth $80,000 after buying an additional 93 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock worth $90,000 after acquiring an additional 536 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Altair Engineering by 28.5% during the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software's stock valued at $130,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 63.38% of the company's stock.
Altair Engineering Stock Performance
Shares of NASDAQ:ALTR traded up $0.02 during midday trading on Tuesday, reaching $111.44. 566,603 shares of the company's stock traded hands, compared to its average volume of 645,136. The company has a fifty day simple moving average of $110.80 and a two-hundred day simple moving average of $104.10. The company has a market cap of $9.56 billion, a P/E ratio of 655.53, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. As a group, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on ALTR. Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 price target 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 report on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $100.83.
Get Our Latest Analysis on ALTR
Insider Activity
In related news, Director Teresa A. Harris sold 450 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $111.08, for a total value of $49,986.00. Following the sale, the director now directly owns 18,092 shares in the company, valued at approximately $2,009,659.36. The trade was a 2.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,805 shares of company stock worth $1,202,184 over the last three months. Insiders own 21.75% of the company's stock.
About Altair Engineering
(
Free Report)
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.
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