Shares of Apptio Inc. (NASDAQ:APTI) have earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $26.13.
Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st. Royal Bank of Canada reiterated a “buy” rating and set a $29.00 price target on shares of Apptio in a research note on Friday. KeyCorp reiterated a “buy” rating and set a $25.00 price target on shares of Apptio in a research note on Wednesday, November 1st. Oppenheimer reiterated a “buy” rating and set a $25.00 price target on shares of Apptio in a research note on Tuesday, October 24th. Finally, Zacks Investment Research upgraded shares of Apptio from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, November 2nd.
In other news, insider John C. Morrow sold 60,455 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $22.65, for a total transaction of $1,369,305.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Pick sold 171,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $21.83, for a total transaction of $3,732,930.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 727,185 shares of company stock worth $16,070,951. 43.20% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in shares of Apptio by 113.5% during the second quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock worth $35,432,000 after acquiring an additional 1,085,566 shares during the period. GMT Capital Corp increased its stake in shares of Apptio by 59.7% during the third quarter. GMT Capital Corp now owns 1,617,314 shares of the technology company’s stock worth $29,872,000 after acquiring an additional 604,300 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Apptio during the second quarter worth about $12,320,000. Rubric Capital Management LP increased its stake in shares of Apptio by 11.9% during the third quarter. Rubric Capital Management LP now owns 668,628 shares of the technology company’s stock worth $12,350,000 after acquiring an additional 71,318 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Apptio by 117.7% during the second quarter. Vanguard Group Inc. now owns 664,629 shares of the technology company’s stock worth $11,532,000 after acquiring an additional 359,373 shares during the period. Institutional investors and hedge funds own 45.46% of the company’s stock.
Shares of Apptio (APTI) opened at $26.02 on Friday. Apptio has a one year low of $10.77 and a one year high of $26.27. The company has a market cap of $1,050.90, a price-to-earnings ratio of -37.71 and a beta of 0.54.
Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The firm had revenue of $47.00 million for the quarter, compared to analyst estimates of $44.86 million. During the same period last year, the business earned ($0.45) EPS. Apptio’s revenue for the quarter was up 15.8% compared to the same quarter last year. research analysts expect that Apptio will post -0.69 EPS for the current year.
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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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