Conestoga Capital Advisors LLC Has $204.04 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Conestoga Capital Advisors LLC boosted its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,424,711 shares of the software’s stock after purchasing an additional 15,200 shares during the period. Altair Engineering comprises approximately 3.1% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Conestoga Capital Advisors LLC owned 2.97% of Altair Engineering worth $204,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock valued at $125,000 after acquiring an additional 190 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Altair Engineering by 17.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software’s stock valued at $93,000 after acquiring an additional 217 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Altair Engineering by 3.3% in the 3rd quarter. Stifel Financial Corp now owns 7,027 shares of the software’s stock valued at $440,000 after acquiring an additional 223 shares during the last quarter. Ziegler Capital Management LLC lifted its stake in shares of Altair Engineering by 3.8% in the 3rd quarter. Ziegler Capital Management LLC now owns 6,309 shares of the software’s stock valued at $395,000 after acquiring an additional 230 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its stake in shares of Altair Engineering by 1.8% in the 3rd quarter. Natixis Advisors L.P. now owns 17,104 shares of the software’s stock valued at $1,070,000 after acquiring an additional 296 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors.

Insider Activity at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $83.73, for a total transaction of $837,300.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares in the company, valued at approximately $8,673,674.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Altair Engineering news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $83.73, for a total transaction of $837,300.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares in the company, valued at approximately $8,673,674.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $91.07, for a total value of $455,350.00. The disclosure for this sale can be found here. Insiders sold 264,047 shares of company stock valued at $22,766,850 in the last three months. Corporate insiders own 22.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALTR. Oppenheimer increased their price target on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Monday, March 25th. JPMorgan Chase & Co. lifted their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $88.00 target price (up from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Altair Engineering Stock Down 3.6 %

Altair Engineering stock traded down $3.07 during midday trading on Wednesday, reaching $82.07. The stock had a trading volume of 224,620 shares, compared to its average volume of 418,664. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $92.92. The company has a fifty day moving average price of $85.54 and a two-hundred day moving average price of $77.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. The business had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. As a group, equities research analysts expect that Altair Engineering Inc. will post 0.63 EPS 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.