Altair Engineering (NASDAQ:ALTR) Earns “Market Perform” Rating from William Blair

Altair Engineering (NASDAQ:ALTR)‘s stock had its “market perform” rating reaffirmed by William Blair in a research report issued on Thursday, Marketbeat.com reports.

Several other equities analysts also recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a research report on Monday, July 15th. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and dropped their target price for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. Rosenblatt Securities increased their target price on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Price Performance

Shares of ALTR stock opened at $104.00 on Thursday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering has a twelve month low of $57.59 and a twelve month high of $113.12. The company has a market cap of $8.83 billion, a P/E ratio of 273.68, a P/E/G ratio of 13.87 and a beta of 1.45. The business has a fifty day simple moving average of $94.30 and a 200 day simple moving average of $91.54.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Wednesday, October 30th. The software reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. The firm had revenue of $151.45 million during the quarter, compared to the consensus estimate of $146.55 million. Altair Engineering had a return on equity of 7.70% and a net margin of 5.10%. On average, sell-side analysts forecast that Altair Engineering will post 0.65 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Christ Revocable Trust sold 50,048 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Christ Revocable Trust sold 50,048 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the completion of the sale, the insider now owns 149,952 shares of the company’s stock, valued at $14,255,936.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total value of $51,193.40. Following the sale, the director now directly owns 21,242 shares of the company’s stock, valued at $1,753,951.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 360,360 shares of company stock valued at $35,476,660. Company insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

Several large investors have recently added to or reduced their stakes in the business. Matrix Capital Management Company LP grew its stake in Altair Engineering by 1.6% during the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after purchasing an additional 196,826 shares during the period. Vanguard Group Inc. grew its stake in Altair Engineering by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after acquiring an additional 182,840 shares during the period. Conestoga Capital Advisors LLC grew its stake in Altair Engineering by 1.4% in the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after acquiring an additional 33,985 shares during the period. William Blair Investment Management LLC acquired a new stake in Altair Engineering in the second quarter valued at approximately $91,589,000. Finally, Bank of New York Mellon Corp grew its stake in Altair Engineering by 121.7% in the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after acquiring an additional 312,448 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

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.