Intech Investment Management LLC Has $2.94 Million Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Intech Investment Management LLC lifted its position in Altair Engineering Inc. (NASDAQ:ALTR) by 137.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,956 shares of the software’s stock after purchasing an additional 15,606 shares during the period. Intech Investment Management LLC’s holdings in Altair Engineering were worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in Altair Engineering by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock valued at $1,535,000 after purchasing an additional 104 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Altair Engineering during the 4th quarter valued at $1,309,000. Vestcor Inc acquired a new position in Altair Engineering during the 4th quarter valued at $5,024,000. Swiss National Bank raised its stake in Altair Engineering by 5.1% during the 4th quarter. Swiss National Bank now owns 116,900 shares of the software’s stock valued at $12,755,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Altair Engineering by 9.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,164 shares of the software’s stock valued at $1,545,000 after purchasing an additional 1,270 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ALTR shares. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $100.83.

Altair Engineering Stock Performance

ALTR opened at $111.67 on Thursday. The firm’s 50-day simple moving average is $110.86 and its 200-day simple moving average is $104.30. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 656.88, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were 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 approximately $2,069,472.62. This represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the transaction, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,220 shares of company stock worth $1,470,974 in the last 90 days. Corporate 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.