Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,375 shares of the software’s stock after selling 272 shares during the period. 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 large investors also recently modified their holdings of ALTR. Matrix Capital Management Company LP lifted its holdings in shares of Altair Engineering by 1.6% during the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after acquiring an additional 196,826 shares in the last quarter. Vanguard Group Inc. raised its position in Altair Engineering by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after purchasing an additional 182,840 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of Altair Engineering by 2.0% during the second quarter. Conestoga Capital Advisors LLC now owns 2,488,566 shares of the software’s stock worth $244,079,000 after purchasing an additional 48,485 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Altair Engineering by 97.3% in the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of Altair Engineering in the second quarter valued at about $91,589,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Stock Performance

Shares of ALTR opened at $94.06 on Tuesday. The firm has a market cap 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 company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $88.93 and its two-hundred day moving average is $88.69. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $101.39.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) earnings per share. Analysts forecast that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ALTR. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus target price of $90.67.

Insider Transactions at Altair Engineering

In related news, major shareholder George J. Christ sold 100,000 shares of the business’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 of the company’s stock, valued at $19,680,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Friday, June 28th. The shares were 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 of the company’s stock, valued at approximately $13,171,261.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder George J. Christ sold 100,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the sale, the insider now owns 200,000 shares in the company, valued at approximately $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. Insiders own 21.75% of the company’s stock.

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.