Ibex Investors LLC acquired a new stake in shares of Apptio Inc (NASDAQ:APTI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,481 shares of the technology company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APTI. BlackRock Inc. raised its stake in Apptio by 72.3% during the second quarter. BlackRock Inc. now owns 2,188,265 shares of the technology company’s stock valued at $79,215,000 after buying an additional 918,403 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Apptio by 136.6% during the 2nd quarter. Macquarie Group Ltd. now owns 1,040,239 shares of the technology company’s stock worth $37,657,000 after purchasing an additional 600,662 shares during the period. Nomura Holdings Inc. raised its position in shares of Apptio by 3,597.0% during the 2nd quarter. Nomura Holdings Inc. now owns 372,994 shares of the technology company’s stock worth $13,502,000 after purchasing an additional 362,905 shares during the period. Castleark Management LLC raised its position in shares of Apptio by 375.2% during the 2nd quarter. Castleark Management LLC now owns 441,421 shares of the technology company’s stock worth $15,979,000 after purchasing an additional 348,526 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Apptio by 3,880.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 238,800 shares of the technology company’s stock worth $8,645,000 after purchasing an additional 232,800 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.

In related news, CFO Kurt Shintaffer sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $25.02, for a total value of $750,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Pick sold 1,772 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $37.63, for a total value of $66,680.36. The disclosure for this sale can be found here. Insiders sold a total of 120,647 shares of company stock valued at $4,209,384 over the last three months. Corporate insiders own 24.16% of the company’s stock.

A number of brokerages have recently weighed in on APTI. JPMorgan Chase & Co. cut Apptio from a “neutral” rating to an “underweight” rating and set a $38.00 price target on the stock. in a research report on Tuesday. They noted that the move was a valuation call. Nomura cut Apptio from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research report on Tuesday, November 20th. Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Friday, November 2nd. Royal Bank of Canada dropped their price target on Apptio to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 30th. Finally, Jefferies Financial Group dropped their price target on Apptio from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $35.70.

Shares of Apptio stock opened at $38.03 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.31 and a current ratio of 2.31. The company has a market cap of $1.72 billion, a PE ratio of -59.42 and a beta of 1.86. Apptio Inc has a twelve month low of $21.88 and a twelve month high of $41.36.

Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Apptio had a negative return on equity of 15.14% and a negative net margin of 11.06%. The business had revenue of $59.22 million for the quarter, compared to analysts’ expectations of $58.09 million. During the same period in the prior year, the firm earned $0.01 EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, research analysts expect that Apptio Inc will post -0.4 EPS for the current year.

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About Apptio

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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Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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