Apptio (APTI) Rating Increased to Strong-Buy at BidaskClub
Apptio (NASDAQ:APTI) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.
A number of other equities analysts have also recently issued reports on APTI. Barclays increased their target price on Apptio from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, July 12th. Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 target price on shares of Apptio in a report on Tuesday, July 31st. Bank of America increased their target price on Apptio from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, August 7th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.40.
Shares of APTI opened at $39.63 on Thursday. Apptio has a 12-month low of $16.98 and a 12-month high of $40.47. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.73 billion, a P/E ratio of -61.92 and a beta of 0.03.
In other Apptio news, CFO Kurt Shintaffer sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $37.51, for a total transaction of $2,250,600.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Lawrence Blasko sold 935 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $35.23, for a total value of $32,940.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 282,619 shares of company stock worth $10,412,290. Company insiders own 24.16% of the company’s stock.
A number of large investors have recently modified their holdings of the business. First Mercantile Trust Co. raised its stake in shares of Apptio by 134.6% during the 2nd quarter. First Mercantile Trust Co. now owns 2,940 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,687 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Apptio during the 1st quarter worth $170,000. Cubist Systematic Strategies LLC bought a new stake in shares of Apptio during the 1st quarter worth $178,000. Allen Operations LLC bought a new stake in shares of Apptio during the 1st quarter worth $214,000. Finally, Tiedemann Advisors LLC bought a new stake in shares of Apptio during the 1st quarter worth $241,000. Institutional investors and hedge funds 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.
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