Apptio (APTI) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Apptio (NASDAQ:APTI) from a hold rating to a buy rating in a research report released on Friday. They currently have $29.00 target price on the technology company’s stock.

According to Zacks, “Apptio, Inc. is a provider of cloud-based technology business management software for managing business of information technology. It offers cloud application which includes Apptio Cost Transparency, Apptio IT Planning, Apptio IT Benchmarking, Apptio Business Insights and Apptio Bill of IT. The company also offers Data Studio, Model Studio and Report Studio under TBM Studio. Apptio, Inc. is based in Bellevue, United States. “

APTI has been the subject of several other research reports. Nomura reduced their price target on shares of Apptio from $41.00 to $39.00 and set a buy rating for the company in a report on Tuesday. Royal Bank of Canada reissued a buy rating and set a $41.00 price target on shares of Apptio in a report on Tuesday, July 31st. Jefferies Financial Group reduced their price target on shares of Apptio from $47.00 to $40.00 and set a buy rating for the company in a report on Tuesday. Bank of America boosted their price target on shares of Apptio from $36.00 to $42.00 and gave the company a buy rating in a report on Thursday, August 2nd. Finally, BidaskClub downgraded shares of Apptio from a sell rating to a strong sell rating in a report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $33.80.

Apptio stock traded up $0.20 during mid-day trading on Friday, reaching $25.77. The company’s stock had a trading volume of 605,154 shares, compared to its average volume of 693,373. The company has a market cap of $1.15 billion, a PE ratio of -40.27 and a beta of 1.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.31 and a quick ratio of 2.29. Apptio has a twelve month low of $20.46 and a twelve month high of $41.36.

Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Apptio had a negative net margin of 11.06% and a negative return on equity of 15.14%. The firm had revenue of $59.22 million during the quarter, compared to the consensus estimate of $58.09 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. Equities research analysts anticipate that Apptio will post -0.4 earnings per share for the current year.

In related news, insider Christopher Pick sold 1,852 shares of Apptio stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $35.31, for a total transaction of $65,394.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $750,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,619 shares of company stock valued at $12,848,840. Corporate insiders own 24.16% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in shares of Apptio by 136.6% during the second quarter. Macquarie Group Ltd. now owns 1,040,239 shares of the technology company’s stock valued at $37,657,000 after purchasing an additional 600,662 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Apptio during the second quarter valued at about $287,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Apptio during the second quarter valued at about $1,487,000. Rhumbline Advisers raised its stake in shares of Apptio by 50.1% during the second quarter. Rhumbline Advisers now owns 32,384 shares of the technology company’s stock valued at $1,172,000 after purchasing an additional 10,816 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Apptio by 3,880.0% during the second quarter. Point72 Asset Management L.P. now owns 238,800 shares of the technology company’s stock valued at $8,645,000 after purchasing an additional 232,800 shares in the last quarter. Institutional investors and hedge funds own 72.51% of the company’s stock.

Apptio Company Profile

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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