Apptio (APTI) Given New $39.00 Price Target at Nomura

Apptio (NASDAQ:APTI) had its price objective reduced by Nomura from $41.00 to $39.00 in a report published on Tuesday morning. Nomura currently has a buy rating on the technology company’s stock.

Several other research analysts have also recently weighed in on APTI. Barclays lifted their price target on shares of Apptio from $28.00 to $32.00 and gave the stock an equal weight rating in a research note on Thursday, July 12th. Royal Bank of Canada reiterated a buy rating and set a $41.00 price target on shares of Apptio in a research note on Tuesday, July 31st. BidaskClub cut shares of Apptio from a buy rating to a hold rating in a research note on Wednesday, August 1st. Bank of America lifted their price target on shares of Apptio from $36.00 to $42.00 and gave the stock a buy rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $33.80.

Shares of Apptio stock opened at $25.77 on Tuesday. The firm has a market cap of $1.15 billion, a PE ratio of -40.27 and a beta of 1.63. Apptio has a 1-year low of $20.46 and a 1-year high of $41.36. 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 (NASDAQ:APTI) last issued its quarterly earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business had revenue of $59.22 million for the quarter, compared to analysts’ expectations of $58.09 million. Apptio had a negative net margin of 11.06% and a negative return on equity of 16.02%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS. As a group, equities analysts expect that Apptio will post -0.4 EPS for the current fiscal year.

In other news, CRO Lawrence Blasko sold 935 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $35.23, for a total transaction of $32,940.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kurt Shintaffer sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $37.51, for a total transaction of $2,250,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 345,619 shares of company stock worth $12,848,840 over the last 90 days. Insiders own 24.16% of the company’s stock.

Several hedge funds have recently made changes to their positions in APTI. Schwab Charles Investment Management Inc. raised its position in shares of Apptio by 99.8% during the 1st 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 period. Northern Trust Corp raised its position in shares of Apptio by 7.7% during the 1st 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 period. BlackRock Inc. raised its position in shares of Apptio by 5.4% during the 1st 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 period. California Public Employees Retirement System bought a new stake in shares of Apptio during the 1st quarter valued at $269,000. Finally, UBS Group AG raised its position in shares of Apptio by 1,131.0% during the 1st quarter. UBS Group AG now owns 14,575 shares of the technology company’s stock valued at $413,000 after purchasing an additional 13,391 shares during the period. Hedge funds and other 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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