Vanguard Group Inc. boosted its position in shares of Apptio Inc. (NASDAQ:APTI) by 117.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 664,629 shares of the technology company’s stock after purchasing an additional 359,373 shares during the quarter. Vanguard Group Inc. owned about 1.70% of Apptio worth $11,532,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in APTI. Rubric Capital Management LP bought a new stake in Apptio during the 2nd quarter worth about $10,363,000. Laurion Capital Management LP bought a new stake in Apptio during the 2nd quarter worth approximately $9,510,000. Bank of Montreal Can bought a new stake in Apptio during the 2nd quarter worth approximately $6,309,000. Granite Investment Partners LLC bought a new stake in Apptio during the 2nd quarter worth approximately $2,901,000. Finally, Northern Trust Corp increased its stake in Apptio by 151.1% during the 2nd quarter. Northern Trust Corp now owns 180,381 shares of the technology company’s stock worth $3,130,000 after purchasing an additional 108,553 shares in the last quarter. 45.56% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price target (up previously from $19.00) on shares of Apptio in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Apptio from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. KeyCorp reaffirmed a “buy” rating and set a $22.00 price target on shares of Apptio in a research report on Friday, October 6th. Oppenheimer reissued a “buy” rating and issued a $25.00 price objective on shares of Apptio in a report on Tuesday, October 24th. Finally, Barclays increased 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 issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.78.
Shares of Apptio Inc. (NASDAQ:APTI) traded up $0.72 during trading on Thursday, reaching $22.97. The company’s stock had a trading volume of 864,057 shares, compared to its average volume of 336,762. Apptio Inc. has a fifty-two week low of $10.77 and a fifty-two week 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 consensus estimate of ($0.10) by $0.08. The firm had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $44.86 million. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) EPS. equities research analysts expect that Apptio Inc. will post -0.69 earnings per share for the current fiscal year.
In related news, insider Christopher Pick sold 171,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kurt Shintaffer sold 40,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $22.05, for a total value of $882,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 655,385 shares of company stock worth $14,444,681 in the last quarter. Company insiders own 43.20% of the company’s stock.
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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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