Epoch Investment Partners Inc. Cuts Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Epoch Investment Partners Inc. reduced its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,375 shares of the software’s stock after selling 272 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Altair Engineering were worth $3,077,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after acquiring an additional 188 shares during the period. FSC Wealth Advisors LLC increased its holdings in shares of Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the period. Natixis Investment Managers International boosted its holdings in Altair Engineering by 68.7% during the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after buying an additional 790 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Altair Engineering during the first quarter worth about $177,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Friday, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $13,171,261.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder George J. Christ sold 100,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $98.40, for a total value of $9,840,000.00. Following the completion of the sale, the insider now directly owns 200,000 shares in the company, valued at $19,680,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,860 shares of company stock valued at $14,739,205. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

Altair Engineering stock opened at $94.06 on Tuesday. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $101.39. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 1,045.11, a PEG ratio of 10.94 and a beta of 1.45. The stock has a fifty day moving average of $88.93 and a two-hundred day moving average of $88.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, August 1st. The software reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) EPS. On average, analysts anticipate that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research report on Monday, July 15th. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and lowered their target price for the company from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.67.

Altair Engineering Company 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.