Voya Investment Management LLC Has $9.50 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Voya Investment Management LLC increased its position in Altair Engineering Inc. (NASDAQ:ALTR) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,089 shares of the software’s stock after purchasing an additional 9,612 shares during the quarter. Voya Investment Management LLC owned approximately 0.10% of Altair Engineering worth $9,502,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. NBT Bank N A NY boosted its position in shares of Altair Engineering by 76.4% during the 4th 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 in the last quarter. UMB Bank n.a. boosted its holdings in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 period. Blue Trust Inc. raised its holdings in shares of Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after buying an additional 536 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Altair Engineering during the 4th quarter worth approximately $185,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALTR. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $100.83.

Insiders Place Their Bets

In related news, CMO Amy Messano sold 235 shares of the business’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 $26,209.55. Following the sale, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Charles Brown sold 3,811 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the completion of the sale, the chief financial officer now owns 69,394 shares in the company, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,172 shares of company stock worth $1,356,847 over the last ninety days. 21.75% of the stock is currently owned by corporate insiders.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.85 on Tuesday. The stock has a 50-day simple moving average of $111.69 and a 200 day simple moving average of $108.56. The stock has a market capitalization 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. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share 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 the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.

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.