Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $6.90 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 382.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,202 shares of the software's stock after acquiring 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 bought and sold shares of the stock. State Street Corp raised its position in shares of Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock valued at $196,173,000 after buying an additional 65,589 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Altair Engineering by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock worth $136,020,000 after acquiring an additional 53,088 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Altair Engineering during the 4th quarter worth approximately $62,142,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 purchasing an additional 42,592 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock worth $38,358,000 after purchasing an additional 85,303 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ALTR has been the subject of a number of recent research reports. Needham & Company LLC restated a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities restated a "neutral" rating and set a $113.00 price target 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 assigned a hold rating to the company. Based on data from MarketBeat.com, Altair Engineering presently has an average rating of "Hold" and a consensus target price of $100.83.

Altair Engineering Stock Performance

ALTR remained flat at $111.85 during trading on Thursday. The firm has a market cap of $9.60 billion, a PE ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. The business's fifty day moving average is $111.02 and its two-hundred day moving average is $105.17. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Nelson Dias sold 373 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $41,600.69. Following the completion of the sale, the executive now owns 57,573 shares in the company, valued at approximately $6,421,116.69. This represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Teresa A. Harris sold 2,700 shares of Altair Engineering stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total transaction of $301,347.00. Following the transaction, the director now directly owns 18,542 shares in the company, valued at $2,069,472.62. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,172 shares of company stock valued at $1,356,847. 21.75% of the stock is currently owned by corporate insiders.

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.