Public Employees Retirement Association of Colorado bought a new position in Altair Engineering Inc (NASDAQ:ALTR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 345,667 shares of the software’s stock, valued at approximately $13,961,000. Public Employees Retirement Association of Colorado owned 0.49% of Altair Engineering at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new position in Altair Engineering in the fourth quarter worth approximately $536,000. Bank of America Corp DE boosted its stake in Altair Engineering by 19.7% in the 4th quarter. Bank of America Corp DE now owns 44,284 shares of the software’s stock worth $1,222,000 after purchasing an additional 7,282 shares during the period. Legal & General Group Plc boosted its stake in Altair Engineering by 313.6% in the 4th quarter. Legal & General Group Plc now owns 18,869 shares of the software’s stock worth $520,000 after purchasing an additional 14,307 shares during the period. American Century Companies Inc. acquired a new position in Altair Engineering in the 4th quarter worth approximately $676,000. Finally, Deutsche Bank AG boosted its stake in Altair Engineering by 34.6% in the 4th quarter. Deutsche Bank AG now owns 81,545 shares of the software’s stock worth $2,248,000 after purchasing an additional 20,967 shares during the period. Hedge funds and other institutional investors own 39.85% of the company’s stock.

A number of equities analysts recently commented on ALTR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective (down previously from $42.00) on shares of Altair Engineering in a research note on Monday. ValuEngine lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Zacks Investment Research lowered shares of Altair Engineering from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Deutsche Bank lowered shares of Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.14.

In related news, CFO Howard N. Morof sold 4,000 shares of Altair Engineering stock in a transaction on Friday, May 17th. The shares were sold at an average price of $36.14, for a total value of $144,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Uwe Schramm sold 2,000 shares of Altair Engineering stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $37.87, for a total transaction of $75,740.00. The disclosure for this sale can be found here. Insiders have sold a total of 429,795 shares of company stock valued at $17,021,625 in the last three months. Company insiders own 29.27% of the company’s stock.

Shares of NASDAQ:ALTR opened at $34.10 on Thursday. The firm’s fifty day moving average is $40.67. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 92.16 and a beta of 1.40. Altair Engineering Inc has a 12-month low of $25.28 and a 12-month high of $43.99. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.12.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, August 8th. The software reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $106.80 million during the quarter, compared to analyst estimates of $108.69 million. Altair Engineering had a net margin of 1.48% and a return on equity of 10.57%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. Sell-side analysts expect that Altair Engineering Inc will post 0.49 earnings per share for the current year.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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Institutional Ownership by Quarter for Altair Engineering (NASDAQ:ALTR)

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