Apptio Inc. (APTI) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Apptio Inc. (NASDAQ:APTI) have received a consensus rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $24.38.
Several equities research analysts have recently commented on APTI shares. Oppenheimer Holdings, Inc. started coverage on Apptio in a research note on Thursday, July 27th. They set an “outperform” rating and a $25.00 price target for the company. Royal Bank Of Canada upped their price target on Apptio from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, August 8th. KeyCorp restated a “buy” rating and set a $22.00 price target on shares of Apptio in a research note on Friday, October 6th. Finally, Barclays PLC upped their price target on Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st.
Apptio (NASDAQ:APTI) traded up $0.84 during trading on Friday, hitting $22.14. The stock had a trading volume of 891,600 shares, compared to its average volume of 514,123. Apptio has a twelve month low of $10.77 and a twelve month high of $24.50.
Apptio (NASDAQ:APTI) last released its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The business had revenue of $47.00 million during the quarter, compared to analysts’ expectations of $44.86 million. During the same quarter in the prior year, the business earned ($0.45) earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. research analysts forecast that Apptio will post -0.69 EPS for the current fiscal year.
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In related news, insider Christopher Pick sold 171,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $21.83, for a total transaction of $3,732,930.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Lawrence Blasko sold 45,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $21.84, for a total value of $982,800.00. The disclosure for this sale can be found here. Corporate insiders own 43.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in Apptio by 322.6% during the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock worth $129,000 after acquiring an additional 8,400 shares during the period. Nationwide Fund Advisors grew its holdings in Apptio by 244.9% during the second quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock worth $177,000 after acquiring an additional 7,242 shares during the period. HighTower Advisors LLC grew its holdings in Apptio by 1.7% during the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock worth $179,000 after acquiring an additional 252 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Apptio during the second quarter worth $207,000. Finally, Trexquant Investment LP acquired a new position in Apptio during the third quarter worth $230,000. 45.27% of the stock is currently owned by hedge funds and other institutional investors.
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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