New York State Common Retirement Fund Has $10.07 Million Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

New York State Common Retirement Fund raised its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,612 shares of the software’s stock after purchasing an additional 628 shares during the period. New York State Common Retirement Fund’s holdings in Altair Engineering were worth $10,065,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new position in Altair Engineering in the 4th quarter valued at about $31,000. Allspring Global Investments Holdings LLC grew its position in shares of Altair Engineering by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock valued at $125,000 after purchasing an additional 190 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Altair Engineering by 31.3% during the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock worth $136,000 after purchasing an additional 518 shares during the period. Legato Capital Management LLC bought a new position in shares of Altair Engineering during the fourth quarter worth approximately $217,000. Finally, Raymond James Trust N.A. bought a new stake in Altair Engineering in the 4th quarter valued at $253,000. 63.38% of the stock is owned by institutional investors.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $81.41 on Thursday. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $92.92. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of -619.23, a price-to-earnings-growth ratio of 10.99 and a beta of 1.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The company’s 50 day simple moving average is $83.57 and its 200 day simple moving average is $79.12.

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

Insiders Place Their Bets

In related news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $80.74, for a total transaction of $807,400.00. Following the sale, the chief executive officer now directly owns 139,605 shares of the company’s stock, valued at approximately $11,271,707.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $80.74, for a total value of $807,400.00. Following the completion of the transaction, the chief executive officer now directly owns 139,605 shares in the company, valued at approximately $11,271,707.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $80.74, for a total value of $403,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,830 shares of company stock valued at $13,876,320. 21.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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