Federated Hermes Inc. Acquires 10,131 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Federated Hermes Inc. boosted its holdings in Altair Engineering Inc. (NASDAQ:ALTRFree Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 342,551 shares of the software’s stock after acquiring an additional 10,131 shares during the period. Federated Hermes Inc. owned 0.42% of Altair Engineering worth $28,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new position in shares of Altair Engineering in the third quarter valued at $37,487,000. Fred Alger Management LLC boosted its holdings in shares of Altair Engineering by 9,727.3% during the 1st quarter. Fred Alger Management LLC now owns 350,345 shares of the software’s stock worth $25,263,000 after buying an additional 346,780 shares during the period. BlackRock Inc. grew its stake in Altair Engineering by 7.5% in the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock valued at $314,217,000 after buying an additional 339,610 shares during the last quarter. Eaton Vance Management raised its holdings in Altair Engineering by 24.9% in the 1st quarter. Eaton Vance Management now owns 1,228,336 shares of the software’s stock valued at $79,104,000 after acquiring an additional 244,872 shares during the period. Finally, Norges Bank acquired a new stake in Altair Engineering during the fourth quarter worth approximately $10,087,000. Institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ALTR. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. Rosenblatt Securities reiterated 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. Oppenheimer lifted their target price on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Altair Engineering presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Check Out Our Latest Stock Analysis on Altair Engineering

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $82.32 on Friday. The business has a fifty day moving average price of $84.49 and a two-hundred day moving average price of $78.22. The stock has a market capitalization of $6.79 billion, a PE ratio of -633.23, a P/E/G ratio of 10.77 and a beta of 1.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $92.92.

Altair Engineering (NASDAQ:ALTRGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. The company had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $172.48 million. As a group, equities analysts predict that Altair Engineering Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $80.74, for a total transaction of $807,400.00. Following the sale, the chief executive officer now owns 139,605 shares in the company, valued at approximately $11,271,707.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.32, for a total transaction of $8,732,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Ralph Scapa sold 10,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $80.74, for a total value of $807,400.00. Following the sale, the chief executive officer now owns 139,605 shares of the company’s stock, valued at $11,271,707.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,830 shares of company stock worth $22,608,320. 21.75% of the stock is currently owned by corporate insiders.

Altair Engineering Profile

(Free Report)

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.

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

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