Apptio (APTI) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of Apptio (NASDAQ:APTI) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other brokerages have also commented on APTI. Barclays raised their price objective on shares of Apptio from $28.00 to $32.00 and gave the stock an equal weight rating in a report on Thursday, July 12th. Jefferies Financial Group raised their price objective on shares of Apptio to $47.00 and gave the stock a buy rating in a report on Thursday, September 13th. Zacks Investment Research upgraded shares of Apptio from a hold rating to a buy rating and set a $42.00 price objective on the stock in a report on Tuesday, August 7th. Bank of America raised their price objective on shares of Apptio from $36.00 to $42.00 and gave the stock a buy rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada restated a buy rating and set a $41.00 price objective on shares of Apptio in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Apptio presently has a consensus rating of Buy and an average price target of $36.50.

APTI opened at $32.71 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -51.11 and a beta of 0.14. Apptio has a twelve month low of $18.16 and a twelve month high of $41.36.

Apptio (NASDAQ:APTI) last posted its earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.14. The company had revenue of $59.05 million for the quarter, compared to analyst estimates of $55.60 million. Apptio had a negative net margin of 11.98% and a negative return on equity of 19.28%. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. Research analysts predict that Apptio will post -0.4 earnings per share for the current year.

In other Apptio news, insider Christopher Pick sold 1,852 shares of Apptio stock in a transaction on Monday, August 20th. The shares were sold at an average price of $35.31, for a total value of $65,394.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Mcadam sold 20,000 shares of Apptio stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $37.53, for a total transaction of $750,600.00. The disclosure for this sale can be found here. Insiders sold a total of 337,619 shares of company stock worth $12,609,640 over the last quarter. Company insiders own 24.16% of the company’s stock.

Hedge funds have recently modified their holdings of the business. First Mercantile Trust Co. increased its stake in Apptio by 134.6% in the 2nd quarter. First Mercantile Trust Co. now owns 2,940 shares of the technology company’s stock valued at $106,000 after buying an additional 1,687 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Apptio in the 1st quarter valued at $170,000. Cubist Systematic Strategies LLC acquired a new stake in Apptio in the 1st quarter valued at $178,000. Tocqueville Asset Management L.P. acquired a new stake in Apptio in the 2nd quarter valued at $253,000. Finally, Verition Fund Management LLC acquired a new stake in Apptio in the 2nd quarter valued at $287,000. Hedge funds and other institutional investors own 72.49% of the company’s stock.

About Apptio

Apptio, Inc provides cloud-based technology business management (TBM) solutions to enterprises. Its cloud-based platform and SaaS applications enable IT leaders to analyze, optimize, and plan technology investments, as well as to benchmark financial and operational performance against peers. The company's TBM solutions consist of adaptive data management, which aggregates, cleanses, and correlates large amounts of customer data from various sources; and standard IT operating model and taxonomy that offers a standard model for how IT costs are captured, categorized, and allocated to IT and business services.

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