Apptio Inc. (NASDAQ:APTI) has been given an average rating of “Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.00.
A number of brokerages recently weighed in on APTI. Zacks Investment Research lowered shares of Apptio from a “hold” rating to a “sell” rating in a research note on Thursday, June 1st. J P Morgan Chase & Co raised shares of Apptio from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $18.00 in a research note on Wednesday, April 26th.
In other Apptio news, insider Christopher Pick sold 170,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $16.05, for a total transaction of $2,728,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Greylock Xii Gp Llc sold 3,009,883 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $13.00, for a total transaction of $39,128,479.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,184,883 shares of company stock worth $41,924,529 over the last three months. Insiders own 43.20% of the company’s stock.
Large investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Apptio by 9.8% in the fourth quarter. FMR LLC now owns 986,500 shares of the technology company’s stock valued at $18,280,000 after buying an additional 88,000 shares during the period. Pax World Management LLC boosted its stake in shares of Apptio by 38.0% in the first quarter. Pax World Management LLC now owns 658,270 shares of the technology company’s stock valued at $7,722,000 after buying an additional 181,098 shares during the period. Whetstone Capital Advisors LLC acquired a new stake in shares of Apptio during the first quarter valued at approximately $6,506,000. Clearline Capital LP acquired a new stake in shares of Apptio during the first quarter valued at approximately $5,016,000. Finally, Columbia Wanger Asset Management LLC boosted its stake in shares of Apptio by 6.7% in the first quarter. Columbia Wanger Asset Management LLC now owns 421,208 shares of the technology company’s stock valued at $4,941,000 after buying an additional 26,292 shares during the period. 24.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apptio (NASDAQ:APTI) traded up 0.87% during mid-day trading on Monday, hitting $17.42. The company had a trading volume of 231,373 shares. The company’s market capitalization is $673.34 million. The firm’s 50-day moving average price is $16.44 and its 200 day moving average price is $14.95. Apptio has a one year low of $10.77 and a one year high of $24.60.
Apptio (NASDAQ:APTI) last announced its earnings results on Thursday, May 4th. The technology company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.04. The company had revenue of $43.90 million during the quarter, compared to analyst estimates of $42.46 million. Apptio’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.31) earnings per share. Analysts predict that Apptio will post ($0.41) earnings per share for the current fiscal year.
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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