Oppenheimer Holdings, Inc. assumed coverage on shares of Apptio Inc. (NASDAQ:APTI) in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $25.00 price objective on the technology company’s stock.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Apptio from a sell rating to a hold rating in a research report on Friday, May 26th. J P Morgan Chase & Co upgraded shares of Apptio from a neutral rating to an overweight rating and boosted their target price for the stock from $16.00 to $18.00 in a research note on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $23.25.

Shares of Apptio (NASDAQ:APTI) traded up 0.28% during mid-day trading on Thursday, reaching $17.79. The company’s stock had a trading volume of 81,384 shares. The stock’s market cap is $687.64 million. Apptio has a one year low of $10.77 and a one year high of $24.60. The stock has a 50 day moving average of $17.16 and a 200-day moving average of $14.80.

Apptio (NASDAQ:APTI) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $42.46 million. During the same period in the prior year, the company posted ($0.31) EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Apptio will post ($0.41) EPS for the current fiscal year.

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In related news, major shareholder Greylock Xii Gp Llc sold 3,009,883 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $13.00, for a total transaction of $39,128,479.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Pick sold 170,000 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $16.05, for a total transaction of $2,728,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,184,883 shares of company stock valued at $41,924,529. Insiders own 43.20% of the company’s stock.

Several institutional investors have recently modified their holdings of APTI. FMR LLC increased its position in shares of Apptio by 9.8% in the fourth quarter. FMR LLC now owns 986,500 shares of the technology company’s stock worth $18,280,000 after buying an additional 88,000 shares during the last quarter. Norges Bank purchased a new position in shares of Apptio during the fourth quarter worth approximately $371,000. Teachers Advisors LLC purchased a new position in shares of Apptio during the fourth quarter worth approximately $292,000. Hillman Co. increased its position in shares of Apptio by 17.6% in the first quarter. Hillman Co. now owns 201,722 shares of the technology company’s stock worth $2,366,000 after buying an additional 30,183 shares during the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new position in shares of Apptio during the first quarter worth approximately $384,000. Hedge funds and other institutional investors own 25.18% of the company’s stock.

About Apptio

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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

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