Apptio (APTI) Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Apptio (NASDAQ:APTI) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning.

APTI has been the topic of several other research reports. Bank of America raised their price target on Apptio from $36.00 to $42.00 and gave the company a buy rating in a research note on Thursday, August 2nd. Royal Bank of Canada restated a buy rating and set a $41.00 price target on shares of Apptio in a research note on Tuesday, July 31st. Zacks Investment Research upgraded Apptio from a hold rating to a buy rating and set a $42.00 price target on the stock in a research note on Tuesday, August 7th. Jefferies Financial Group raised their price target on Apptio to $47.00 and gave the company a buy rating in a research note on Thursday, September 13th. Finally, Barclays raised their price target on Apptio from $36.00 to $37.00 and gave the company an equal weight rating in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $36.50.

APTI stock traded up $0.88 during midday trading on Friday, reaching $30.42. The company’s stock had a trading volume of 621,359 shares, compared to its average volume of 541,984. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.72. Apptio has a 1 year low of $18.16 and a 1 year high of $41.36. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -47.53 and a beta of 0.14.

Apptio (NASDAQ:APTI) last released its earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. Apptio had a negative return on equity of 19.28% and a negative net margin of 11.98%. The business had revenue of $59.05 million for the quarter, compared to analyst estimates of $55.60 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The business’s revenue was up 30.6% compared to the same quarter last year. Research analysts expect that Apptio will post -0.4 EPS for the current year.

In other Apptio news, CRO Lawrence Blasko sold 30,000 shares of Apptio stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $40.02, for a total value of $1,200,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Mcadam sold 20,000 shares of Apptio stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $37.53, for a total value of $750,600.00. The disclosure for this sale can be found here. Insiders sold 337,619 shares of company stock worth $12,609,640 in the last quarter. 24.16% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of APTI. Schwab Charles Investment Management Inc. grew its stake in Apptio by 99.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 79,138 shares of the technology company’s stock valued at $2,243,000 after purchasing an additional 39,538 shares during the last quarter. Northern Trust Corp grew its stake in Apptio by 7.7% in the first quarter. Northern Trust Corp now owns 241,841 shares of the technology company’s stock valued at $6,854,000 after purchasing an additional 17,220 shares during the last quarter. BlackRock Inc. grew its stake in Apptio by 5.4% in the first quarter. BlackRock Inc. now owns 1,269,862 shares of the technology company’s stock valued at $35,987,000 after purchasing an additional 65,199 shares during the last quarter. Federated Investors Inc. PA grew its stake in Apptio by 3,259.8% in the first quarter. Federated Investors Inc. PA now owns 26,744 shares of the technology company’s stock valued at $758,000 after purchasing an additional 25,948 shares during the last quarter. Finally, California Public Employees Retirement System purchased a new position in Apptio in the first quarter valued at about $269,000. Institutional investors own 72.49% of the company’s stock.

About Apptio

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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