Apptio Inc. (APTI) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Apptio Inc. (NASDAQ:APTI) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $19.00 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 topic of a number of other research reports. Royal Bank Of Canada raised their price objective on Apptio from $19.00 to $21.00 and gave the company an outperform rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. assumed coverage on Apptio in a report on Thursday, July 27th. They issued an outperform rating and a $25.00 price objective on the stock. Finally, J P Morgan Chase & Co upgraded Apptio from a neutral rating to an overweight rating and raised their price objective for the company from $16.00 to $18.00 in a report on Wednesday, April 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $23.00.
Apptio (NASDAQ APTI) traded down 0.12% during trading on Tuesday, hitting $17.09. 102,425 shares of the stock traded hands. The stock has a 50 day moving average price of $17.29 and a 200-day moving average price of $14.82. The stock’s market cap is $669.48 million. Apptio has a 52-week low of $10.77 and a 52-week high of $24.60.
Apptio (NASDAQ:APTI) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. Apptio had a negative return on equity of 41.76% and a negative net margin of 17.36%. The firm had revenue of $45.23 million for the quarter, compared to analyst estimates of $43.72 million. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts anticipate that Apptio will post ($0.37) EPS for the current fiscal year.
In other Apptio news, insider Christopher Pick sold 170,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $16.05, for a total value of $2,728,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 43.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 1st Global Advisors Inc. acquired a new stake in shares of Apptio during the first quarter valued at $127,000. Wells Fargo & Company MN boosted its stake in shares of Apptio by 322.6% in the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock valued at $129,000 after buying an additional 8,400 shares in the last quarter. Allen Holding Inc. NY acquired a new stake in shares of Apptio during the first quarter valued at $148,000. Pier 88 Investment Partners LLC acquired a new stake in shares of Apptio during the first quarter valued at $170,000. Finally, HighTower Advisors LLC boosted its stake in shares of Apptio by 1.7% in the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock valued at $179,000 after buying an additional 252 shares in the last quarter. Institutional investors own 25.09% of the company’s stock.
Apptio Company Profile
Apptio, Inc is a provider of technology business management (TBM) solutions. The Company’s cloud-based platform and software as a service (SaaS) applications enable information technology (IT) leaders to analyze, optimize and plan technology investments, and benchmark the financial and operational performance against peers.
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