Apigee Corp. (APIC) Stake Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp cut its stake in Apigee Corp. (NASDAQ:APIC) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 137,317 shares of the company’s stock after selling 1,846 shares during the period. Bank of New York Mellon Corp owned about 0.46% of Apigee Corp. worth $1,678,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of APIC. Kornitzer Capital Management Inc. KS boosted its stake in Apigee Corp. by 1.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 104,600 shares of the company’s stock worth $1,278,000 after buying an additional 1,200 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in Apigee Corp. during the second quarter worth about $1,246,000. Strs Ohio boosted its stake in Apigee Corp. by 2,500.0% in the second quarter. Strs Ohio now owns 41,600 shares of the company’s stock worth $508,000 after buying an additional 40,000 shares during the last quarter. Herald Investment Management Ltd purchased a new stake in Apigee Corp. during the first quarter worth about $1,943,000. Finally, Royal Bank of Canada boosted its stake in Apigee Corp. by 595.6% in the first quarter. Royal Bank of Canada now owns 18,782 shares of the company’s stock worth $156,000 after buying an additional 16,082 shares during the last quarter. 43.02% of the stock is owned by institutional investors and hedge funds.
Apigee Corp. (NASDAQ:APIC) traded down 0.06% during trading on Friday, hitting $17.38. The stock had a trading volume of 94,629 shares. Apigee Corp. has a 12-month low of $5.35 and a 12-month high of $17.84. The company’s market capitalization is $525.07 million. The stock has a 50 day moving average price of $16.74 and a 200 day moving average price of $12.57.
Apigee Corp. (NASDAQ:APIC) last released its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.06. Apigee Corp. had a negative net margin of 45.11% and a negative return on equity of 65.33%. The business earned $25.10 million during the quarter. During the same quarter in the prior year, the company earned ($0.38) EPS. Apigee Corp.’s quarterly revenue was up 34.2% on a year-over-year basis. Equities research analysts forecast that Apigee Corp. will post ($0.74) earnings per share for the current year.
A number of analysts recently issued reports on the company. Credit Suisse Group AG cut Apigee Corp. from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $17.40 in a research report on Thursday, September 15th. Roth Capital cut Apigee Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, September 15th. JPMorgan Chase & Co. lowered Apigee Corp. from an “overweight” rating to a “neutral” rating and raised their target price for the company from $14.00 to $17.40 in a report on Wednesday, September 14th. Nomura lowered Apigee Corp. from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. Finally, Zacks Investment Research upgraded Apigee Corp. from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, September 20th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.47.
About Apigee Corp.
Apigee Corporation (Apigee) is engaged in providing a software platform that allows businesses to design, deploy, and scale application program interfaces (APIs), as a connection layer between their core information technology (IT) systems and data and the applications, with which their customers, partners, employees and other users engage with the business.
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