Congress Asset Management Co. Acquires Shares of 2,297 Altair Engineering Inc. (NASDAQ:ALTR)

Congress Asset Management Co. acquired a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,297 shares of the software's stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of ALTR. Rhumbline Advisers boosted its position in Altair Engineering by 1.1% during the 4th quarter. Rhumbline Advisers now owns 178,626 shares of the software's stock valued at $19,490,000 after acquiring an additional 1,875 shares in the last quarter. ABC Arbitrage SA bought a new stake in Altair Engineering during the 4th quarter valued at $3,421,000. Blue Trust Inc. boosted its position in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock valued at $90,000 after acquiring an additional 536 shares in the last quarter. New York State Teachers Retirement System boosted its position in Altair Engineering by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 8,600 shares of the software's stock valued at $938,000 after acquiring an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Altair Engineering by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software's stock valued at $1,811,000 after acquiring an additional 100 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALTR has been the topic of several recent research reports. Loop Capital reaffirmed a "hold" rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research cut Altair Engineering from a "strong-buy" rating to a "hold" rating in a research report on Sunday, November 3rd. William Blair reaffirmed a "market perform" rating on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada increased their target price on Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research report on Friday. One 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.com, Altair Engineering currently has a consensus rating of "Hold" and a consensus target price of $100.71.

Insiders Place Their Bets

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $1,373,970.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company's stock, valued at approximately $14,167,216.05. The trade was a 8.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares of the company's stock, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,143 shares of company stock valued at $6,265,694. 21.75% of the stock is owned by company insiders.

Altair Engineering Price Performance

Shares of Altair Engineering stock remained flat at $111.78 during trading on Friday. The stock had a trading volume of 844,441 shares, compared to its average volume of 792,745. 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 stock has a market capitalization of $9.51 billion, a P/E ratio of 294.17, a price-to-earnings-growth ratio of 10.70 and a beta of 1.42. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The company has a fifty day moving average price of $109.80 and a 200-day moving average price of $101.19.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued 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). Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%. The firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. As a group, analysts anticipate that Altair Engineering Inc. will post 0.75 earnings per share for the current year.

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.