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

Epoch Investment Partners Inc. purchased a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 31,647 shares of the software’s stock, valued at approximately $2,726,000.

A number of other hedge funds have also modified their holdings of ALTR. Raymond James & Associates lifted its position in Altair Engineering by 4.3% in the fourth quarter. Raymond James & Associates now owns 135,861 shares of the software’s stock valued at $11,433,000 after buying an additional 5,562 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Altair Engineering in the 4th quarter worth approximately $31,000. Conestoga Capital Advisors LLC boosted its position in shares of Altair Engineering by 0.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,424,711 shares of the software’s stock worth $204,039,000 after purchasing an additional 15,200 shares during the period. Strs Ohio increased its holdings in Altair Engineering by 94.4% in the 4th quarter. Strs Ohio now owns 17,500 shares of the software’s stock valued at $1,472,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Altair Engineering by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,987 shares of the software’s stock valued at $1,009,000 after purchasing an additional 1,549 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a research note on Monday, April 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $94.60.

Insider Buying and Selling

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $97.73, for a total transaction of $60,592.60. Following the completion of the transaction, the director now owns 21,242 shares in the company, valued at approximately $2,075,980.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $97.73, for a total value of $60,592.60. Following the sale, the director now directly owns 21,242 shares in the company, valued at approximately $2,075,980.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $97.23, for a total transaction of $9,723,000.00. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at approximately $9,723,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 467,254 shares of company stock worth $43,396,100. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Up 0.6 %

Shares of NASDAQ ALTR opened at $87.67 on Monday. The stock has a market cap of $7.28 billion, a P/E ratio of 974.11, a PEG ratio of 11.03 and a beta of 1.48. The business’s fifty day simple moving average is $93.85 and its 200-day simple moving average is $88.14. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $101.39. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $172.91 million for the quarter, compared to the consensus estimate of $169.29 million. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. Altair Engineering’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 EPS. As a group, equities analysts predict that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.

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.