Zurcher Kantonalbank Zurich Cantonalbank Has $1.01 Million Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Altair Engineering Inc. (NASDAQ:ALTR) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,987 shares of the software’s stock after purchasing an additional 1,549 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Altair Engineering were worth $1,009,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ALTR. McGlone Suttner Wealth Management Inc. acquired a new stake in Altair Engineering in the fourth quarter worth $31,000. Allspring Global Investments Holdings LLC raised its holdings in Altair Engineering by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after purchasing an additional 190 shares during the period. SG Americas Securities LLC raised its holdings in Altair Engineering by 31.3% in 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 acquired a new stake in Altair Engineering in the fourth quarter worth $217,000. Finally, Raymond James Trust N.A. acquired a new stake in Altair Engineering in the fourth quarter worth $253,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Stock Up 0.5 %

Altair Engineering stock opened at $83.58 on Friday. The company has a market cap of $6.89 billion, a P/E ratio of -642.92, a price-to-earnings-growth ratio of 11.09 and a beta of 1.42. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $92.92. The company has a fifty day simple moving average of $83.87 and a 200 day simple moving average of $78.83. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Monday, March 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Rosenblatt Securities reissued a “neutral” rating and set a $88.00 price objective (up previously from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Finally, Oppenheimer increased their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Insider Activity

In other news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares of the company’s stock, valued at approximately $9,434,032.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares of the company’s stock, valued at approximately $9,434,032.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder George J. Christ sold 12,783 shares of Altair Engineering stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $85.85, for a total transaction of $1,097,420.55. Following the completion of the transaction, the insider now directly owns 187,217 shares of the company’s stock, valued at approximately $16,072,579.45. The disclosure for this sale can be found here. Insiders sold a total of 161,830 shares of company stock valued at $13,876,320 in the last quarter. Company insiders own 21.75% 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.