Apptio (APTI) Research Coverage Started at JMP Securities
JMP Securities assumed coverage on shares of Apptio (NASDAQ:APTI) in a research note released on Monday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $28.00 target price on the technology company’s stock.
Other equities research analysts also recently issued reports about the company. Bank of America increased their price objective on Apptio from $20.00 to $25.00 and gave the company a buy rating in a report on Tuesday, October 31st. Royal Bank Of Canada reissued an outperform rating and issued a $24.00 price objective (up from $23.00) on shares of Apptio in a report on Tuesday, October 31st. Oppenheimer reissued a buy rating and issued a $27.00 price objective on shares of Apptio in a report on Thursday, November 9th. Barclays increased their price objective on Apptio from $19.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research raised Apptio from a hold rating to a buy rating and set a $19.00 price objective for the company in a report on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $24.78.
Apptio (NASDAQ APTI) traded up $0.14 during mid-day trading on Monday, hitting $22.31. The stock had a trading volume of 237,100 shares, compared to its average volume of 335,126. Apptio has a 1-year low of $10.77 and a 1-year high of $24.50.
Apptio (NASDAQ:APTI) last posted its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. The business had revenue of $47.00 million during the quarter, compared to the consensus estimate of $44.86 million. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.45) earnings per share. sell-side analysts predict that Apptio will post -0.69 EPS for the current fiscal year.
In other news, insider Christopher Pick sold 171,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sachin Gupta sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $21.59, for a total value of $1,727,200.00. The disclosure for this sale can be found here. Insiders have sold 604,792 shares of company stock valued at $13,331,635 in the last 90 days. Company insiders own 43.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in APTI. Bank of New York Mellon Corp raised its stake in shares of Apptio by 109.4% during the first quarter. Bank of New York Mellon Corp now owns 27,302 shares of the technology company’s stock worth $320,000 after purchasing an additional 14,261 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Apptio by 2.9% during the first quarter. Geode Capital Management LLC now owns 81,459 shares of the technology company’s stock worth $955,000 after purchasing an additional 2,277 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Apptio during the first quarter worth approximately $954,000. Goldman Sachs Group Inc. purchased a new stake in shares of Apptio during the first quarter worth approximately $1,191,000. Finally, Bank of Montreal Can purchased a new stake in shares of Apptio during the second quarter worth approximately $6,309,000. Institutional investors and hedge funds own 45.56% of the company’s stock.
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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