Fisher Asset Management LLC Increases Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Fisher Asset Management LLC raised its position in Altair Engineering Inc. (NASDAQ:ALTR) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,470 shares of the software’s stock after acquiring an additional 2,278 shares during the quarter. Fisher Asset Management LLC owned approximately 0.08% of Altair Engineering worth $5,173,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in shares of Altair Engineering in the 3rd quarter worth about $37,487,000. Victory Capital Management Inc. grew its holdings in shares of Altair Engineering by 95.7% during the 3rd quarter. Victory Capital Management Inc. now owns 392,414 shares of the software’s stock worth $24,549,000 after acquiring an additional 191,866 shares during the period. Vanguard Group Inc. lifted its stake in shares of Altair Engineering by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,727,942 shares of the software’s stock valued at $358,340,000 after purchasing an additional 179,838 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Altair Engineering by 22.8% during the third quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock valued at $59,538,000 after purchasing an additional 176,780 shares in the last quarter. Finally, Comerica Bank purchased a new stake in Altair Engineering in the third quarter worth $11,051,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALTR. Rosenblatt Securities restated a “neutral” rating and set a $88.00 target price on shares of Altair Engineering in a report on Monday, April 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a research report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a report on Friday, May 3rd. Finally, Oppenheimer upped their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.60.

Insiders Place Their Bets

In other news, major shareholder George J. Christ sold 12,783 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $85.85, for a total value of $1,097,420.55. Following the transaction, the insider now directly owns 187,217 shares in the company, valued at approximately $16,072,579.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder George J. Christ sold 12,783 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $85.85, for a total value of $1,097,420.55. Following the transaction, the insider now owns 187,217 shares of the company’s stock, valued at $16,072,579.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $91.07, for a total transaction of $455,350.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,830 shares of company stock valued at $13,876,320. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Up 3.7 %

ALTR stock opened at $86.09 on Wednesday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 956.56, a P/E/G ratio of 10.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $92.92. The business has a fifty day moving average price of $83.20 and a 200-day moving average price of $79.80.

Altair Engineering (NASDAQ:ALTR) last posted 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 business had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $169.29 million. During the same quarter in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts forecast that Altair Engineering Inc. will post 0.63 earnings per share for the current fiscal year.

Altair Engineering 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.