Apptio Inc. (APTI) Receives Average Rating of “Buy” from Brokerages
Apptio Inc. (NASDAQ:APTI) has earned a consensus rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.78.
Several brokerages recently weighed in on APTI. Bank of America increased their target price on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Oppenheimer restated a “buy” rating and set a $27.00 target price on shares of Apptio in a research note on Thursday, November 9th. Royal Bank of Canada restated an “outperform” rating and set a $24.00 target price (up previously from $23.00) on shares of Apptio in a research note on Tuesday, October 31st. Barclays increased their target price on Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Finally, JMP Securities began coverage on Apptio in a research note on Monday, November 27th. They set an “outperform” rating and a $28.00 target price for the company.
In other Apptio news, insider Christopher Pick sold 171,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $21.83, for a total value of $3,732,930.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sachin Gupta sold 50,593 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $22.00, for a total value of $1,113,046.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 655,385 shares of company stock valued at $14,444,681. Insiders own 43.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of APTI. Nationwide Fund Advisors raised its holdings in Apptio by 244.9% in the 2nd quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock valued at $177,000 after acquiring an additional 7,242 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Apptio in the 2nd quarter valued at approximately $207,000. Trexquant Investment LP acquired a new position in shares of Apptio in the 3rd quarter worth approximately $230,000. The Manufacturers Life Insurance Company raised its holdings in shares of Apptio by 321.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,254 shares of the technology company’s stock worth $265,000 after buying an additional 11,633 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new position in shares of Apptio in the 2nd quarter worth approximately $314,000. 45.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Apptio (NASDAQ:APTI) traded down $0.44 during trading hours on Thursday, reaching $22.02. The company had a trading volume of 516,721 shares, compared to its average volume of 338,454. Apptio has a 1 year low of $10.77 and a 1 year high of $24.50.
Apptio (NASDAQ:APTI) last announced its earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.08. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The firm had revenue of $47.00 million during the quarter, compared to the consensus estimate of $44.86 million. During the same quarter in the prior year, the company earned ($0.45) EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. equities analysts forecast that Apptio will post -0.69 earnings per share for the current year.
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Apptio Company Profile
Apptio, Inc is a provider of technology business management (TBM) solutions. The Company’s cloud-based platform and software as a service (SaaS) applications enable information technology (IT) leaders to analyze, optimize and plan technology investments, and benchmark the financial and operational performance against peers.
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