BidaskClub cut shares of Apptio (NASDAQ:APTI) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

Several other brokerages have also issued reports on APTI. Barclays boosted their target price on shares of Apptio from $28.00 to $32.00 and gave the company an equal weight rating in a research report on Thursday, July 12th. Jefferies Financial Group upped their price target on shares of Apptio to $47.00 and gave the stock a buy rating in a research report on Thursday, September 13th. Zacks Investment Research upgraded shares of Apptio from a hold rating to a buy rating and set a $42.00 price target for the company in a research report on Tuesday, August 7th. Bank of America upped their price target on shares of Apptio from $36.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada reiterated a buy rating and issued a $41.00 price target on shares of Apptio in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Apptio presently has an average rating of Buy and a consensus price target of $36.50.

Shares of NASDAQ APTI opened at $37.94 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market cap of $1.69 billion, a P/E ratio of -59.28 and a beta of 0.06. Apptio has a 12-month low of $16.98 and a 12-month high of $41.36.

Apptio (NASDAQ:APTI) last announced its earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.14. The company had revenue of $59.05 million during the quarter, compared to analyst estimates of $55.60 million. Apptio had a negative net margin of 11.98% and a negative return on equity of 19.28%. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share. equities research analysts anticipate that Apptio will post -0.4 EPS for the current year.

In related news, CFO Kurt Shintaffer sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $37.51, for a total transaction of $2,250,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sachin Gupta sold 25,000 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $39.87, for a total transaction of $996,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 337,619 shares of company stock valued at $12,609,640. Company insiders own 24.16% of the company’s stock.

Several large investors have recently modified their holdings of APTI. BlackRock Inc. boosted its position in shares of Apptio by 72.3% during the second quarter. BlackRock Inc. now owns 2,188,265 shares of the technology company’s stock worth $79,215,000 after acquiring an additional 918,403 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Apptio by 136.6% during the second quarter. Macquarie Group Ltd. now owns 1,040,239 shares of the technology company’s stock worth $37,657,000 after acquiring an additional 600,662 shares during the last quarter. Fred Alger Management Inc. boosted its position in shares of Apptio by 85.2% during the second quarter. Fred Alger Management Inc. now owns 1,301,204 shares of the technology company’s stock worth $47,104,000 after acquiring an additional 598,662 shares during the last quarter. Alkeon Capital Management LLC boosted its position in shares of Apptio by 106.6% during the first quarter. Alkeon Capital Management LLC now owns 825,531 shares of the technology company’s stock worth $23,395,000 after acquiring an additional 426,040 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Apptio during the second quarter worth $13,322,000. Hedge funds and other institutional investors own 72.49% of the company’s stock.

Apptio Company Profile

Apptio, Inc provides cloud-based technology business management (TBM) solutions to enterprises. Its cloud-based platform and SaaS applications enable IT leaders to analyze, optimize, and plan technology investments, as well as to benchmark financial and operational performance against peers. The company's TBM solutions consist of adaptive data management, which aggregates, cleanses, and correlates large amounts of customer data from various sources; and standard IT operating model and taxonomy that offers a standard model for how IT costs are captured, categorized, and allocated to IT and business services.

Featured Story: Do You Need a Fiduciary?

Analyst Recommendations for Apptio (NASDAQ:APTI)

Receive News & Ratings for Apptio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apptio and related companies with MarketBeat.com's FREE daily email newsletter.