Blue Trust Inc. Buys 536 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Blue Trust Inc. increased its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 185.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 825 shares of the software’s stock after purchasing an additional 536 shares during the quarter. Blue Trust Inc.’s holdings in Altair Engineering were worth $90,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. New York State Teachers Retirement System raised its holdings in Altair Engineering by 1.2% in the 4th quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock worth $938,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after buying an additional 100 shares in the last quarter. Retirement Systems of Alabama increased its stake in Altair Engineering by 0.7% in the 4th quarter. Retirement Systems of Alabama now owns 72,685 shares of the software’s stock worth $7,931,000 after buying an additional 494 shares in the last quarter. KBC Group NV increased its stake in Altair Engineering by 62.4% in the 4th quarter. KBC Group NV now owns 2,663 shares of the software’s stock worth $291,000 after buying an additional 1,023 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALTR shares. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities raised their price objective on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Loop Capital restated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.71.

Insider Buying and Selling

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Ralph Scapa sold 16,095 shares of Altair Engineering stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the sale, the chief executive officer now directly owns 117,950 shares of the company’s stock, valued at $12,461,417.50. This represents a 12.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,143 shares of company stock worth $6,265,694. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

ALTR opened at $111.78 on Friday. The firm has a market cap of $9.51 billion, a P/E ratio of 657.53, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $109.90 and a 200 day moving average of $101.53.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.23% and a net margin of 2.13%. As a group, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current 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.