Ameriprise Financial Inc. Acquires 10,768 Shares of Apptio Inc. (APTI)
Ameriprise Financial Inc. lifted its holdings in Apptio Inc. (NASDAQ:APTI) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,013 shares of the technology company’s stock after acquiring an additional 10,768 shares during the period. Ameriprise Financial Inc.’s holdings in Apptio were worth $1,330,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in APTI. Schwab Charles Investment Management Inc. increased its position in shares of Apptio by 163.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,000 shares of the technology company’s stock worth $521,000 after acquiring an additional 18,600 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Apptio in the second quarter worth $336,000. Bank of New York Mellon Corp increased its position in shares of Apptio by 73.4% in the second quarter. Bank of New York Mellon Corp now owns 47,342 shares of the technology company’s stock worth $821,000 after acquiring an additional 20,040 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Apptio in the second quarter worth $314,000. Finally, Teachers Advisors LLC acquired a new stake in shares of Apptio in the second quarter worth $563,000. 45.56% of the stock is owned by institutional investors.
In other Apptio news, insider Christopher Pick sold 171,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $21.83, for a total transaction of $3,732,930.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sachin Gupta sold 80,000 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $21.59, for a total transaction of $1,727,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 727,185 shares of company stock valued at $16,070,951. Company insiders own 43.20% of the company’s stock.
Apptio (NASDAQ:APTI) last released its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.08. The business had revenue of $47.00 million during the quarter, compared to analyst estimates of $44.86 million. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The business’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the business earned ($0.45) EPS. research analysts predict that Apptio Inc. will post -0.69 EPS for the current year.
Several research firms have recently issued reports on APTI. Barclays increased their price objective on shares of Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 31st. KeyCorp reaffirmed a “buy” rating and set a $25.00 price target on shares of Apptio in a report on Wednesday, November 1st. Oppenheimer reaffirmed a “buy” rating and set a $25.00 price target on shares of Apptio in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Apptio from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, November 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target (up from $23.00) on shares of Apptio in a report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Apptio presently has a consensus rating of “Buy” and a consensus target price of $24.78.
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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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