Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Altair Engineering Inc. (NASDAQ:ALTR) by 382.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,202 shares of the software’s stock after purchasing an additional 50,102 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Altair Engineering were worth $6,896,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. NBT Bank N A NY increased its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. grew its holdings in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the last quarter. GAMMA Investing LLC grew its holdings in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the last quarter. Blue Trust Inc. grew its holdings 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 buying an additional 536 shares during the last quarter. Finally, IFP Advisors Inc acquired a new stake in Altair Engineering during the 4th quarter valued at $185,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Stock Up 0.2 %

ALTR stock opened at $111.75 on Friday. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The stock’s fifty day simple moving average is $110.91 and its 200-day simple moving average is $104.62. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 657.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data 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). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business 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 0.87 earnings per share for the current fiscal year.

Insider Activity at Altair Engineering

In related news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value 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. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa A. Harris sold 2,700 shares of Altair Engineering stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the transaction, the director now 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. Over the last 90 days, insiders have sold 13,220 shares of company stock worth $1,470,974. 21.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.