Epoch Investment Partners Inc. Takes $2.73 Million Position in Altair Engineering Inc. (NASDAQ:ALTR)

Epoch Investment Partners Inc. purchased a new position in Altair Engineering Inc. (NASDAQ:ALTR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 31,647 shares of the software’s stock, valued at approximately $2,726,000.

Several other institutional investors also recently bought and sold shares of the company. American International Group Inc. lifted its stake in shares of Altair Engineering by 0.7% in the fourth quarter. American International Group Inc. now owns 27,018 shares of the software’s stock worth $2,274,000 after buying an additional 189 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Altair Engineering by 1.3% during the 4th quarter. Natixis Advisors L.P. now owns 17,333 shares of the software’s stock valued at $1,458,000 after purchasing an additional 229 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Altair Engineering during the 4th quarter valued at $31,000. New York Life Investment Management LLC increased its holdings in shares of Altair Engineering by 6.7% in the 4th quarter. New York Life Investment Management LLC now owns 5,982 shares of the software’s stock worth $503,000 after purchasing an additional 376 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new position in shares of Altair Engineering in the fourth quarter worth $33,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Altair Engineering

In other news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $82.89, for a total value of $51,391.80. Following the transaction, the director now owns 18,895 shares of the company’s stock, valued at $1,566,206.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Altair Engineering news, CEO James Ralph Scapa sold 5,560 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $84.37, for a total value of $469,097.20. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at $11,309,376.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.89, for a total transaction of $51,391.80. Following the sale, the director now owns 18,895 shares in the company, valued at $1,566,206.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 467,254 shares of company stock valued at $43,396,100. Company insiders own 21.75% of the company’s stock.

Altair Engineering Trading Up 0.6 %

Altair Engineering stock opened at $87.67 on Monday. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $101.39. The company has a market cap of $7.28 billion, a P/E ratio of 974.11, a P/E/G ratio of 11.03 and a beta of 1.48. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $93.85 and a two-hundred day simple moving average of $88.14.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The company had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts predict that Altair Engineering Inc. will post 0.66 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on ALTR shares. 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 report on Monday, July 15th. Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 price target on shares of Altair Engineering in a research note on Monday, April 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.60.

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.