Conestoga Capital Advisors LLC Purchases 33,985 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Conestoga Capital Advisors LLC boosted its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,522,551 shares of the software’s stock after purchasing an additional 33,985 shares during the quarter. Altair Engineering comprises approximately 3.3% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Conestoga Capital Advisors LLC’s holdings in Altair Engineering were worth $240,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALTR. Matrix Capital Management Company LP lifted its stake in shares of Altair Engineering by 1.6% in the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after buying an additional 196,826 shares in the last quarter. Vanguard Group Inc. lifted its position in Altair Engineering by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after acquiring an additional 182,840 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Altair Engineering during the 2nd quarter valued at about $91,589,000. Bank of New York Mellon Corp increased its holdings in Altair Engineering by 121.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after purchasing an additional 312,448 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Altair Engineering by 28.9% in the second quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock worth $54,978,000 after purchasing an additional 125,816 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALTR. Royal Bank of Canada lifted 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. Rosenblatt Securities lifted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday. Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday. Finally, JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Price Performance

Shares of Altair Engineering stock traded up $0.08 on Friday, reaching $104.07. The stock had a trading volume of 783,318 shares, compared to its average volume of 510,278. The business’s 50 day moving average is $94.03 and its two-hundred day moving average is $91.38. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $113.12. The company has a market cap of $8.83 billion, a P/E ratio of 273.67, a price-to-earnings-growth ratio of 13.87 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Wednesday, October 30th. The software reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. The firm had revenue of $151.45 million during the quarter, compared to the consensus estimate of $146.55 million. Altair Engineering had a net margin of 5.10% and a return on equity of 7.70%. As a group, research analysts anticipate that Altair Engineering Inc. will post 0.65 EPS for the current year.

Insider Activity at Altair Engineering

In related news, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Christ Revocable Trust sold 100,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total value of $51,193.40. Following the sale, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 360,360 shares of company stock valued at $35,476,660. Company insiders own 21.75% of the company’s stock.

About Altair Engineering

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.