Canada Pension Plan Investment Board Purchases Shares of 222,600 Altair Engineering Inc. (NASDAQ:ALTR)

Canada Pension Plan Investment Board acquired a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 222,600 shares of the software’s stock, valued at approximately $24,288,000. Canada Pension Plan Investment Board owned approximately 0.26% of Altair Engineering as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ALTR. NBT Bank N A NY lifted its stake in Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC lifted its stake in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Blue Trust Inc. lifted its stake in Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares during the last quarter. Finally, IFP Advisors Inc bought a new position in Altair Engineering during the fourth quarter worth about $185,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analysts Set New Price Targets

ALTR has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $100.83.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $111.85 on Friday. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. The stock’s fifty day moving average price is $111.57 and its two-hundred day moving average price is $107.75.

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). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The business had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. On average, equities analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Transactions at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 450 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $111.08, for a total transaction of $49,986.00. Following the transaction, the director now owns 18,092 shares in the company, valued at $2,009,659.36. This trade represents a 2.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Nelson Dias sold 373 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $41,600.69. Following the sale, the executive now owns 57,573 shares of the company’s stock, valued at approximately $6,421,116.69. The trade was a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,172 shares of company stock valued at $1,356,847. 21.75% of the stock is currently owned by company insiders.

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.