Quantbot Technologies LP Buys New Holdings in Apptio Inc (APTI)
Quantbot Technologies LP bought a new position in Apptio Inc (NASDAQ:APTI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,348 shares of the technology company’s stock, valued at approximately $678,000.
Several other institutional investors have also bought and sold shares of the business. Bank of Montreal Can grew its holdings in shares of Apptio by 2.7% in the 2nd quarter. Bank of Montreal Can now owns 57,740 shares of the technology company’s stock worth $2,090,000 after purchasing an additional 1,495 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Apptio in the 2nd quarter worth about $529,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Apptio in the 2nd quarter worth about $680,000. Sei Investments Co. bought a new stake in shares of Apptio in the 2nd quarter worth about $1,035,000. Finally, Rhumbline Advisers grew its holdings in shares of Apptio by 50.1% in the 2nd quarter. Rhumbline Advisers now owns 32,384 shares of the technology company’s stock worth $1,172,000 after purchasing an additional 10,816 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ APTI opened at $38.21 on Friday. The stock has a market cap of $1.71 billion, a P/E ratio of -59.70 and a beta of 1.86. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.31 and a current ratio of 2.31. Apptio Inc has a 12-month low of $21.88 and a 12-month high of $41.36.
In related news, Director Peter S. Klein sold 8,000 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $38.76, for a total transaction of $310,080.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Lawrence Blasko sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $40.02, for a total transaction of $1,200,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,647 shares of company stock worth $4,209,384. 24.16% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Apptio from a “neutral” rating to an “underweight” rating and set a $38.00 target price on the stock. in a report on Tuesday. They noted that the move was a valuation call. Nomura lowered shares of Apptio from a “buy” rating to a “hold” rating and lowered their target price for the stock from $39.00 to $38.00 in a report on Tuesday, November 20th. Zacks Investment Research raised shares of Apptio from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Friday, November 2nd. Royal Bank of Canada lowered their target price on shares of Apptio to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 30th. Finally, Jefferies Financial Group lowered their target price on shares of Apptio from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $35.70.
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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