New York State Common Retirement Fund grew its position in shares of Apptio Inc. (NASDAQ:APTI) by 156.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the technology company’s stock after purchasing an additional 11,599 shares during the quarter. New York State Common Retirement Fund’s holdings in Apptio were worth $330,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Rubric Capital Management LP acquired a new position in shares of Apptio in the second quarter worth approximately $10,363,000. Laurion Capital Management LP acquired a new position in shares of Apptio in the second quarter worth approximately $9,510,000. Bank of Montreal Can acquired a new position in Apptio in the second quarter valued at approximately $6,309,000. Granite Investment Partners LLC acquired a new position in Apptio in the second quarter valued at approximately $2,901,000. Finally, Goldman Sachs Group Inc. acquired a new position in Apptio in the first quarter valued at approximately $1,191,000. 45.56% of the stock is currently owned by hedge funds and other institutional investors.
APTI has been the topic of several recent analyst reports. Zacks Investment Research raised Apptio from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, August 8th. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price objective (up previously from $19.00) on shares of Apptio in a report on Wednesday, August 9th. KeyCorp restated a “buy” rating and set a $22.00 price objective on shares of Apptio in a report on Friday, October 6th. Oppenheimer restated a “buy” rating and set a $25.00 price objective on shares of Apptio in a report on Tuesday, October 24th. Finally, Barclays boosted their price objective on Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $24.78.
Apptio Inc. (APTI) traded down $0.45 during mid-day trading on Monday, reaching $22.03. The company’s stock had a trading volume of 359,357 shares, compared to its average volume of 335,212. Apptio Inc. has a twelve month low of $10.77 and a twelve month high of $24.50.
Apptio (NASDAQ:APTI) last posted its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $44.86 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. equities analysts expect that Apptio Inc. will post -0.69 EPS for the current year.
In other news, CRO Lawrence Blasko sold 45,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $21.84, for a total transaction of $982,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sachin Gupta sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $22.30, for a total value of $1,784,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 604,792 shares of company stock worth $13,331,635 in the last ninety days. Insiders own 43.20% of the company’s stock.
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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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