Altair Engineering (NASDAQ:ALTR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Altair Engineering (NASDAQ:ALTR - Free Report) in a research note published on Friday, Benzinga reports. The brokerage currently has a $100.00 target price on the software's stock.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the company an overweight rating in a research report on Tuesday, March 26th. Rosenblatt Securities reissued a neutral rating and issued a $88.00 target price on shares of Altair Engineering in a research report on Monday. Oppenheimer raised their price target on Altair Engineering from $95.00 to $100.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $90.00.

Altair Engineering Trading Down 0.3 %

NASDAQ:ALTR traded down $0.28 on Friday, hitting $81.47. The stock had a trading volume of 424,140 shares, compared to its average volume of 412,871. The company has a fifty day moving average price of $83.29 and a two-hundred day moving average price of $79.16. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of -626.69, a PEG ratio of 10.85 and a beta of 1.42. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. Altair Engineering has a 1-year low of $57.59 and a 1-year high of $92.92.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating the consensus estimate of $0.22 by $0.07. The business had revenue of $171.50 million for the quarter, compared to analyst estimates of $172.48 million. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. Equities research analysts expect that Altair Engineering will post 0.63 earnings per share for the current fiscal year.

Insider Activity at Altair Engineering

In related news, major shareholder Jrs Investments Llc sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $455,350.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Jrs Investments Llc sold 5,000 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $91.07, for a total transaction of $455,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder George J. Christ sold 12,783 shares of the firm's stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $85.85, for a total value of $1,097,420.55. Following the completion of the sale, the insider now owns 187,217 shares in the company, valued at $16,072,579.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 161,830 shares of company stock worth $13,876,320. Company insiders own 21.75% of the company's stock.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Matrix Capital Management Company LP lifted its position in shares of 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 buying an additional 932,717 shares during the last quarter. Vanguard Group Inc. raised its stake in Altair Engineering by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,761,445 shares of the software's stock worth $484,826,000 after acquiring an additional 33,503 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Altair Engineering by 0.6% in the first 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 during the last quarter. Impax Asset Management Group plc boosted its stake in Altair Engineering by 6.9% in the third 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% during the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software's stock worth $99,494,000 after purchasing an additional 583,127 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

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.