Altair Engineering (NASDAQ:ALTR) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note published on Friday morning, Benzinga reports. Needham & Company LLC currently has a $100.00 target price on the software’s stock.

A number of other research analysts also recently weighed in on the company. Oppenheimer increased their price target on Altair Engineering from $95.00 to $100.00 and gave the company an outperform rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued a sector perform rating and issued a $90.00 price target on shares of Altair Engineering in a research note on Thursday, March 21st. JPMorgan Chase & Co. increased their price target on Altair Engineering from $86.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Finally, Rosenblatt Securities reissued a neutral rating and issued a $88.00 price target on shares of Altair Engineering in a research note on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Altair Engineering currently has an average rating of Moderate Buy and a consensus target price of $90.00.

Altair Engineering Trading Down 0.3 %

ALTR traded down $0.28 during mid-day trading on Friday, reaching $81.47. The stock had a trading volume of 424,140 shares, compared to its average volume of 373,848. The stock has a market capitalization of $6.72 billion, a P/E ratio of 905.22, a P/E/G ratio of 10.90 and a beta of 1.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The firm’s fifty day simple moving average is $83.21 and its two-hundred day simple moving average is $79.27. Altair Engineering has a 52 week low of $57.59 and a 52 week high of $92.92.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. The firm had revenue of $171.50 million for the quarter, compared to analyst estimates of $172.48 million. Altair Engineering had a return on equity of 5.83% and a net margin of 1.55%. On average, equities analysts predict that Altair Engineering will post 0.63 EPS for the current year.

Insider Buying and Selling

In related news, CRO Nelson Dias sold 375 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $83.65, for a total transaction of $31,368.75. Following the sale, the executive now owns 33,838 shares of the company’s stock, valued at approximately $2,830,548.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Altair Engineering news, CRO Nelson Dias sold 375 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $83.65, for a total transaction of $31,368.75. Following the completion of the transaction, the executive now owns 33,838 shares in the company, valued at approximately $2,830,548.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $80.74, for a total value of $807,400.00. Following the transaction, the chief executive officer now owns 139,605 shares of the company’s stock, valued at approximately $11,271,707.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 161,830 shares of company stock valued at $13,876,320. 21.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Altair Engineering

A number of large investors have recently added to or reduced their stakes in the company. Matrix Capital Management Company LP increased its holdings in Altair Engineering by 8.3% during the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after purchasing an additional 932,717 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Altair Engineering by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,761,445 shares of the software’s stock valued at $484,826,000 after acquiring an additional 33,503 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Altair Engineering by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock valued at $210,213,000 after acquiring an additional 15,370 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Altair Engineering by 6.9% in the 3rd quarter. Impax Asset Management Group plc now owns 2,130,550 shares of the software’s stock valued at $132,570,000 after acquiring an additional 137,933 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after acquiring an additional 583,127 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

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.