Zurcher Kantonalbank Zurich Cantonalbank Buys 1,270 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.8% during the 4th quarter, Holdings Channel reports. The fund owned 14,164 shares of the software’s stock after purchasing an additional 1,270 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Altair Engineering were worth $1,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV boosted its position in shares of Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Altair Engineering by 1.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock worth $1,333,000 after purchasing an additional 201 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Altair Engineering in the 3rd quarter worth $617,000. King Luther Capital Management Corp boosted its position in shares of Altair Engineering by 5.6% in the 3rd quarter. King Luther Capital Management Corp now owns 174,733 shares of the software’s stock worth $16,689,000 after purchasing an additional 9,310 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Altair Engineering in the 3rd quarter worth $1,084,000. Institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

ALTR has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, Altair Engineering currently has an average rating of “Hold” and a consensus target price of $100.83.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the transaction, the chief financial officer now owns 69,394 shares in the company, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Teresa A. Harris sold 2,700 shares of Altair Engineering stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the transaction, the director now owns 18,542 shares of the company’s stock, valued at $2,069,472.62. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,805 shares of company stock worth $1,202,184. Insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

Shares of ALTR opened at $111.44 on Wednesday. The stock has a 50-day moving average of $110.83 and a two-hundred day moving average of $104.25. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The stock has a market cap of $9.56 billion, a P/E ratio of 655.53, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

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.