Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,549 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 14.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,987 shares of the software’s stock after buying an additional 1,549 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Altair Engineering were worth $1,009,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after purchasing an additional 518 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Altair Engineering by 14.5% in the third quarter. Harbor Capital Advisors Inc. now owns 11,079 shares of the software’s stock valued at $693,000 after purchasing an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Altair Engineering by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 269,932 shares of the software’s stock valued at $16,887,000 after purchasing an additional 16,768 shares in the last quarter. Strs Ohio increased its stake in Altair Engineering by 95.7% in the third quarter. Strs Ohio now owns 9,000 shares of the software’s stock valued at $563,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Altair Engineering by 8.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,535 shares of the software’s stock valued at $1,723,000 after purchasing an additional 2,039 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Insiders Place Their Bets

In other Altair Engineering news, CRO Nelson Dias sold 375 shares of Altair Engineering stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $83.65, for a total value of $31,368.75. Following the sale, the executive now owns 33,838 shares of the company’s stock, valued at $2,830,548.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Altair Engineering news, CRO Nelson Dias sold 375 shares of Altair Engineering stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $83.65, for a total value of $31,368.75. Following the sale, the executive now owns 33,838 shares of the company’s stock, valued at $2,830,548.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $80.74, for a total transaction of $807,400.00. Following the completion of the sale, the chief executive officer now directly owns 139,605 shares in the company, valued at approximately $11,271,707.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,830 shares of company stock valued at $13,876,320. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Up 0.5 %

Altair Engineering stock opened at $83.58 on Friday. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $92.92. The stock has a market cap of $6.89 billion, a PE ratio of -642.92, a price-to-earnings-growth ratio of 11.09 and a beta of 1.42. The firm’s 50-day simple moving average is $83.87 and its 200 day simple moving average is $78.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The business had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $172.48 million. Research analysts predict that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ALTR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Monday, March 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $88.00 price objective (up from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Oppenheimer lifted their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Altair Engineering Company 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.