Healthcare of Ontario Pension Plan Trust Fund Takes $1.36 Million Position in Altair Engineering Inc. (NASDAQ:ALTR)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,200 shares of the software's stock, valued at approximately $1,356,000.

Several other large investors have also modified their holdings of the business. Conestoga Capital Advisors LLC raised its holdings in shares of Altair Engineering by 1.4% in the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software's stock valued at $240,929,000 after acquiring an additional 33,985 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Altair Engineering in the second quarter valued at $91,589,000. Bank of New York Mellon Corp raised its position in Altair Engineering by 121.7% during the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software's stock valued at $55,818,000 after acquiring an additional 312,448 shares in the last quarter. Candriam S.C.A. increased its holdings in shares of Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software's stock valued at $54,978,000 after purchasing an additional 125,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Altair Engineering by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 513,695 shares of the software's stock worth $50,384,000 after acquiring an additional 37,114 shares during the period. Hedge funds and other institutional investors own 63.38% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. William Blair reaffirmed a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada raised their target price on Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. Rosenblatt Securities lifted their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a "hold" rating and set a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Loop Capital reaffirmed a "hold" rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Altair Engineering has an average rating of "Hold" and a consensus price target of $100.71.

Altair Engineering Trading Up 0.2 %

Shares of Altair Engineering stock traded up $0.22 during trading hours on Monday, reaching $105.83. 565,732 shares of the company's stock were exchanged, compared to its average volume of 587,695. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 276.82, a price-to-earnings-growth ratio of 12.14 and a beta of 1.44. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a 52-week low of $70.07 and a 52-week high of $113.12. The company has a fifty day moving average of $100.49 and a 200-day moving average of $94.60.

Insider Activity at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total value of $55,614.00. Following the transaction, the director now owns 21,242 shares of the company's stock, valued at $1,905,407.40. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $686,985.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 362,544 shares of company stock worth $36,041,876. Company insiders own 21.75% of the company's stock.

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.