Schwab Charles Investment Management Inc. lifted its position in shares of Apptio Inc (NASDAQ:APTI) by 99.8% in the first quarter, HoldingsChannel.com reports. The firm owned 79,138 shares of the technology company’s stock after purchasing an additional 39,538 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Apptio were worth $2,243,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Chicago Equity Partners LLC purchased a new stake in shares of Apptio during the first quarter worth about $5,359,000. Trexquant Investment LP boosted its holdings in shares of Apptio by 68.3% during the first quarter. Trexquant Investment LP now owns 36,606 shares of the technology company’s stock worth $1,037,000 after purchasing an additional 14,859 shares during the period. Monarch Partners Asset Management LLC raised its stake in Apptio by 533.2% in the first quarter. Monarch Partners Asset Management LLC now owns 171,605 shares of the technology company’s stock worth $4,863,000 after buying an additional 144,505 shares in the last quarter. Rhumbline Advisers raised its stake in Apptio by 9.9% in the first quarter. Rhumbline Advisers now owns 21,568 shares of the technology company’s stock worth $611,000 after buying an additional 1,949 shares in the last quarter. Finally, Alkeon Capital Management LLC bought a new position in Apptio in the fourth quarter worth about $9,396,000. Institutional investors own 63.14% of the company’s stock.
In other Apptio news, CRO Lawrence Blasko sold 3,671 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $30.20, for a total transaction of $110,864.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sachin Gupta sold 30,600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $34.69, for a total transaction of $1,061,514.00. The disclosure for this sale can be found here. Insiders have sold 298,065 shares of company stock valued at $9,509,986 in the last ninety days. Insiders own 24.16% of the company’s stock.
A number of equities analysts recently issued reports on APTI shares. BidaskClub downgraded shares of Apptio from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Bank of America increased their price target on shares of Apptio from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Jefferies Financial Group increased their price target on shares of Apptio to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, May 1st. ValuEngine raised shares of Apptio from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, JMP Securities increased their price target on shares of Apptio from $31.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Apptio has an average rating of “Buy” and a consensus target price of $31.30.
Apptio opened at $36.13 on Tuesday, MarketBeat.com reports. Apptio Inc has a 1 year low of $16.07 and a 1 year high of $38.35. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.75.
Apptio (NASDAQ:APTI) last announced its earnings results on Monday, April 30th. The technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.07). Apptio had a negative net margin of 13.68% and a negative return on equity of 25.40%. The business had revenue of $54.10 million for the quarter, compared to the consensus estimate of $51.64 million. During the same period in the prior year, the business posted ($0.08) EPS. Apptio’s revenue for the quarter was up 23.2% on a year-over-year basis. equities analysts predict that Apptio Inc will post -0.53 EPS for the current fiscal year.
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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