Apptio (APTI) Downgraded by Nomura

Nomura lowered shares of Apptio (NASDAQ:APTI) from a buy rating to a hold rating in a research report released on Tuesday, MarketBeat.com reports. The brokerage currently has $38.00 price objective on the technology company’s stock, down from their previous price objective of $39.00.

A number of other research analysts have also commented on the stock. BidaskClub lowered shares of Apptio from a sell rating to a strong sell rating in a research report on Friday, October 12th. Royal Bank of Canada lowered their target price on shares of Apptio to $35.00 and set an outperform rating on the stock in a research note on Tuesday, October 30th. Jefferies Financial Group upped their target price on shares of Apptio to $47.00 and gave the company a buy rating in a research note on Thursday, September 13th. Finally, Barclays upped their target price on shares of Apptio from $36.00 to $37.00 and gave the company an equal weight rating in a research note on Friday, September 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Apptio has a consensus rating of Buy and a consensus target price of $33.70.

Shares of APTI opened at $37.84 on Tuesday. The stock has a market cap of $1.71 billion, a PE ratio of -59.13 and a beta of 1.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.31 and a quick ratio of 2.31. Apptio has a 52 week low of $21.61 and a 52 week high of $41.36.

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

In other Apptio news, insider John C. Morrow sold 7,594 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $38.42, for a total transaction of $291,761.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Pick sold 1,772 shares of the company’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $37.63, for a total transaction of $66,680.36. The disclosure for this sale can be found here. In the last three months, insiders sold 154,442 shares of company stock worth $5,489,524. 24.16% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Morgan Stanley grew its position in Apptio by 144.0% in the third quarter. Morgan Stanley now owns 669,118 shares of the technology company’s stock valued at $24,731,000 after purchasing an additional 394,920 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Apptio by 2.4% in the 3rd quarter. Teachers Advisors LLC now owns 66,023 shares of the technology company’s stock valued at $2,440,000 after acquiring an additional 1,578 shares during the period. Macquarie Group Ltd. grew its position in shares of Apptio by 26.7% in the 3rd quarter. Macquarie Group Ltd. now owns 1,318,341 shares of the technology company’s stock valued at $48,726,000 after acquiring an additional 278,102 shares during the period. Vista Equity Partners Management LLC grew its position in shares of Apptio by 0.4% in the 3rd quarter. Vista Equity Partners Management LLC now owns 712,099 shares of the technology company’s stock valued at $26,319,000 after acquiring an additional 2,779 shares during the period. Finally, Verition Fund Management LLC grew its position in shares of Apptio by 92.0% in the 3rd quarter. Verition Fund Management LLC now owns 15,195 shares of the technology company’s stock valued at $562,000 after acquiring an additional 7,279 shares during the period. 73.72% of the stock is currently owned by hedge funds and other institutional investors.

Apptio Company Profile

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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