Intech Investment Management LLC Acquires 15,606 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Intech Investment Management LLC boosted its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 137.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. 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 worth $27,000 after acquiring an additional 107 shares during the period. UMB Bank n.a. raised its stake 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 purchasing an additional 124 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software's stock valued at $80,000 after purchasing an additional 93 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software's stock worth $90,000 after buying an additional 536 shares during the period. Finally, KBC Group NV raised its position in Altair Engineering by 17.9% in the 3rd 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 last quarter. Institutional investors own 63.38% of the company's stock.

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Altair Engineering Trading Down 0.1 %

Shares of ALTR traded down $0.06 during midday trading on Monday, reaching $111.69. The stock had a trading volume of 418,839 shares, compared to its average volume of 654,224. The firm has a 50 day simple moving average of $110.91 and a 200-day simple moving average of $104.75. The firm has a market cap of $9.58 billion, a PE ratio of 657.00, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Matthew Charles Brown sold 3,811 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the sale, the chief financial officer now owns 69,394 shares in the company, valued at $7,739,512.82. The trade was a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the transaction, the director now owns 18,542 shares in the company, valued at approximately $2,069,472.62. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,172 shares of company stock valued at $1,356,847 over the last ninety days. 21.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reiterated 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 MarketBeat.com, Altair Engineering has an average rating of "Hold" and a consensus price target of $100.83.

Altair Engineering 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.