Swiss National Bank Has $12.76 Million Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Swiss National Bank lifted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 5.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 116,900 shares of the software’s stock after purchasing an additional 5,700 shares during the period. Swiss National Bank’s holdings in Altair Engineering were worth $12,755,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Altair Engineering by 9.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,164 shares of the software’s stock worth $1,545,000 after buying an additional 1,270 shares during the last quarter. NBT Bank N A NY increased its position in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after acquiring an additional 107 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Altair Engineering by 5.2% in the 4th quarter. Arizona State Retirement System now owns 17,250 shares of the software’s stock worth $1,882,000 after acquiring an additional 851 shares during the last quarter. State of Michigan Retirement System lifted its position in Altair Engineering by 0.7% in the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock valued at $1,549,000 after acquiring an additional 100 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Altair Engineering by 4.5% during the 4th quarter. QRG Capital Management Inc. now owns 27,036 shares of the software’s stock valued at $2,950,000 after purchasing an additional 1,162 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALTR. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.83.

Insider Activity at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the sale, the director now directly owns 18,542 shares of the company’s stock, valued at $2,069,472.62. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the transaction, the chief financial officer now owns 55,519 shares of the company’s stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,220 shares of company stock worth $1,470,974. Insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.67 on Thursday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The company has a market capitalization of $9.58 billion, a PE ratio of 656.88, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The business has a fifty day moving average price of $110.86 and a two-hundred day moving average price of $104.30.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. Sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

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.