Barclays Trims Apptio (APTI) Target Price to $30.00

Apptio (NASDAQ:APTI) had its target price lowered by Barclays from $37.00 to $30.00 in a report released on Tuesday morning. Barclays currently has an equal weight rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on APTI. Royal Bank of Canada reiterated a buy rating and set a $41.00 price objective on shares of Apptio in a research note on Tuesday, July 31st. BidaskClub downgraded shares of Apptio from a buy rating to a hold rating in a research note on Wednesday, August 1st. Bank of America increased their price objective on shares of Apptio from $36.00 to $42.00 and gave the company a buy rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded shares of Apptio from a hold rating to a buy rating and set a $42.00 price objective on the stock in a research note on Tuesday, August 7th. Finally, Jefferies Financial Group increased their price objective on shares of Apptio to $47.00 and gave the company a buy rating in a research note on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $35.10.

Shares of NASDAQ APTI traded up $0.02 during midday trading on Tuesday, reaching $25.59. 7,382 shares of the company’s stock traded hands, compared to its average volume of 644,668. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.29 and a current ratio of 2.29. Apptio has a one year low of $20.46 and a one year high of $41.36. The company has a market cap of $1.10 billion, a PE ratio of -40.03 and a beta of 0.13.

Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Apptio had a negative net margin of 11.06% and a negative return on equity of 16.02%. The firm had revenue of $59.22 million for the quarter, compared to the consensus estimate of $58.09 million. During the same period last year, the firm earned $0.01 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. On average, analysts forecast that Apptio will post -0.4 earnings per share for the current fiscal year.

In other Apptio news, CFO Kurt Shintaffer sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $37.51, for a total value of $2,250,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Lawrence Blasko sold 935 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $35.23, for a total transaction of $32,940.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 345,619 shares of company stock valued at $12,848,840. 24.16% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in APTI. BlackRock Inc. boosted its stake in Apptio by 72.3% in the second quarter. BlackRock Inc. now owns 2,188,265 shares of the technology company’s stock valued at $79,215,000 after acquiring an additional 918,403 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Apptio by 136.6% in the second quarter. Macquarie Group Ltd. now owns 1,040,239 shares of the technology company’s stock valued at $37,657,000 after acquiring an additional 600,662 shares in the last quarter. Fred Alger Management Inc. raised its holdings in shares of Apptio by 85.2% in the second quarter. Fred Alger Management Inc. now owns 1,301,204 shares of the technology company’s stock worth $47,104,000 after buying an additional 598,662 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Apptio in the second quarter worth $13,322,000. Finally, Nomura Holdings Inc. raised its holdings in shares of Apptio by 3,597.0% in the second quarter. Nomura Holdings Inc. now owns 372,994 shares of the technology company’s stock worth $13,502,000 after buying an additional 362,905 shares during the last quarter. Institutional investors own 72.51% 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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