Apptio (NASDAQ:APTI) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other analysts also recently issued research reports about the stock. Oppenheimer reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Apptio in a research report on Tuesday, October 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Apptio in a research report on Tuesday, October 10th. KeyCorp reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Apptio in a research report on Friday, October 6th. Zacks Investment Research raised shares of Apptio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, November 2nd. Finally, Bank of America increased their price objective on shares of Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.00.

Shares of Apptio (APTI) opened at $24.00 on Thursday. The stock has a market cap of $967.71 and a P/E ratio of -35.29. Apptio has a 1 year low of $10.77 and a 1 year high of $25.49.

Apptio (NASDAQ:APTI) last posted its earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.08. The firm had revenue of $47.00 million during the quarter, compared to the consensus estimate of $44.86 million. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The company’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.45) EPS. research analysts anticipate that Apptio will post -0.69 earnings per share for the current year.

In other news, insider Christopher Pick sold 171,000 shares of the firm’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sachin Gupta sold 80,000 shares of the firm’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 transaction of $1,727,200.00. The disclosure for this sale can be found here. Insiders have sold 727,185 shares of company stock valued at $16,070,951 in the last three months. Corporate insiders own 43.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP grew its position in shares of Apptio by 11.9% during the third quarter. Rubric Capital Management LP now owns 668,628 shares of the technology company’s stock worth $12,350,000 after buying an additional 71,318 shares in the last quarter. Granahan Investment Management Inc. MA grew its position in shares of Apptio by 21.4% during the third quarter. Granahan Investment Management Inc. MA now owns 177,300 shares of the technology company’s stock worth $3,275,000 after buying an additional 31,216 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Apptio during the third quarter worth approximately $353,000. Engineers Gate Manager LP acquired a new stake in shares of Apptio during the third quarter worth approximately $549,000. Finally, California State Teachers Retirement System lifted its stake in Apptio by 12.3% during the third quarter. California State Teachers Retirement System now owns 35,252 shares of the technology company’s stock worth $651,000 after purchasing an additional 3,852 shares during the last quarter. 45.56% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

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