Bank of Montreal Can Has $2.23 Million Stake in Apptio Inc (APTI)

Bank of Montreal Can lifted its position in Apptio Inc (NASDAQ:APTI) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,238 shares of the technology company’s stock after purchasing an additional 2,498 shares during the period. Bank of Montreal Can owned about 0.14% of Apptio worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Mercantile Trust Co. grew its stake in Apptio by 134.6% during the second quarter. First Mercantile Trust Co. now owns 2,940 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,687 shares in the last quarter. Raymond James & Associates grew its stake in Apptio by 11.4% during the second quarter. Raymond James & Associates now owns 25,486 shares of the technology company’s stock valued at $923,000 after acquiring an additional 2,611 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Apptio by 22.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 17,935 shares of the technology company’s stock valued at $649,000 after acquiring an additional 3,270 shares in the last quarter. Voya Investment Management LLC grew its stake in Apptio by 45.2% during the second quarter. Voya Investment Management LLC now owns 12,116 shares of the technology company’s stock valued at $439,000 after acquiring an additional 3,769 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in Apptio by 55.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 11,019 shares of the technology company’s stock valued at $399,000 after acquiring an additional 3,908 shares in the last quarter. 72.63% of the stock is owned by hedge funds and other institutional investors.

In other Apptio news, insider Sachin Gupta sold 25,000 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $35.17, for a total transaction of $879,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt Shintaffer sold 30,000 shares of the stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $25.02, for a total transaction of $750,600.00. The disclosure for this sale can be found here. Insiders have sold 201,869 shares of company stock valued at $7,184,540 in the last quarter. 24.16% of the stock is owned by company insiders.

APTI stock opened at $25.71 on Friday. Apptio Inc has a 52 week low of $20.46 and a 52 week high of $41.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.31 and a quick ratio of 2.31. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -40.17 and a beta of 1.62.

Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Apptio had a negative net margin of 11.06% and a negative return on equity of 15.14%. The business had revenue of $59.22 million during the quarter, compared to analyst estimates of $58.09 million. During the same quarter last year, the business earned $0.01 earnings per share. Apptio’s quarterly revenue was up 26.0% compared to the same quarter last year. Research analysts anticipate that Apptio Inc will post -0.4 EPS for the current fiscal year.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Apptio from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Friday, November 2nd. Jefferies Financial Group cut their target price on shares of Apptio from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Barclays raised their target price on shares of Apptio from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Thursday, July 12th. Bank of America raised their target price on shares of Apptio from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, BidaskClub cut shares of Apptio from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.80.

WARNING: This story was reported by WKRB News and is owned by of WKRB News. If you are reading this story on another website, it was copied illegally and reposted in violation of US and international copyright & trademark legislation. The original version of this story can be accessed at https://www.wkrb13.com/2018/11/09/bank-of-montreal-can-has-2-23-million-stake-in-apptio-inc-apti.html.

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.

See Also: Hedge Funds Explained

Want to see what other hedge funds are holding APTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apptio Inc (NASDAQ:APTI).

Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

Receive News & Ratings for Apptio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apptio and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply