Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 382.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,202 shares of the software's stock after purchasing an additional 50,102 shares during the quarter. 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 reporting period.

Several other large investors have also recently modified their holdings of the business. Magnetar Financial LLC bought a new position in Altair Engineering in the 4th quarter worth approximately $62,142,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Altair Engineering by 31.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software's stock worth $37,473,000 after acquiring an additional 94,219 shares during the period. Fisher Asset Management LLC grew its position in shares of 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 purchasing an additional 85,303 shares in the last quarter. New York Life Investment Management LLC raised its stake in shares of Altair Engineering by 1,103.3% during the 4th quarter. New York Life Investment Management LLC now owns 76,363 shares of the software's stock valued at $8,332,000 after purchasing an additional 70,017 shares during the period. Finally, State Street Corp raised its stake in shares of Altair Engineering by 3.3% during the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software's stock valued at $196,173,000 after purchasing an additional 65,589 shares during the period. Hedge funds and other institutional investors own 63.38% of the company's stock.

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Altair Engineering Trading Up 0.1 %

Shares of ALTR traded up $0.08 during trading hours on Tuesday, reaching $111.77. 440,186 shares of the company's stock traded hands, compared to its average volume of 654,048. The firm's 50 day simple moving average is $110.94 and its 200-day simple moving average is $104.93. The stock has a market cap of $9.59 billion, a PE ratio of 657.44, 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 - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to analysts' expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity at Altair Engineering

In other news, Director Teresa A. Harris sold 2,700 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the transaction, the director now directly owns 18,542 shares in the company, valued at approximately $2,069,472.62. This represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Charles Brown sold 3,811 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the transaction, the chief financial officer now directly owns 69,394 shares in the company, valued at approximately $7,739,512.82. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock valued at $1,356,847 over the last 90 days. 21.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Altair Engineering in a 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 note on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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.