Johnson Financial Group Inc. Buys New Shares in Altair Engineering Inc. (NASDAQ:ALTR)

Johnson Financial Group Inc. purchased a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 334 shares of the software’s stock, valued at approximately $37,000.

A number of other hedge funds have also modified their holdings of the company. NBT Bank N A NY boosted its position 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 buying an additional 107 shares during the last quarter. UMB Bank n.a. lifted its stake in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 93 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after acquiring an additional 536 shares during the period. Finally, IFP Advisors Inc purchased a new position in shares of Altair Engineering during the fourth quarter worth $185,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Teresa A. Harris sold 2,700 shares of Altair Engineering stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the sale, the director now directly owns 18,542 shares in the company, valued at approximately $2,069,472.62. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Amy Messano sold 235 shares of the stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at $2,637,796.03. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock worth $1,356,847 over the last 90 days. 21.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.85 on Wednesday. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The business’s 50 day moving average is $111.69 and its two-hundred day moving average is $108.58. The company has a market capitalization of $9.60 billion, a P/E ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results 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). The business had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

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.