Apptio Inc. (APTI) Earns Buy Rating from Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their buy rating on shares of Apptio Inc. (NASDAQ:APTI) in a report published on Tuesday. The firm currently has a $21.00 price objective on the technology company’s stock.

A number of other analysts have also recently weighed in on the stock. KeyCorp reaffirmed a buy rating and set a $22.00 target price on shares of Apptio in a research note on Friday, October 6th. Zacks Investment Research cut shares of Apptio from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of Apptio in a research note on Thursday, July 27th. They set an outperform rating and a $25.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $22.90.

Apptio (NASDAQ:APTI) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The firm had revenue of $45.23 million for the quarter, compared to analysts’ expectations of $43.72 million. Apptio had a negative net margin of 17.36% and a negative return on equity of 41.76%. The company’s revenue was up 16.6% on a year-over-year basis.

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Several institutional investors have recently modified their holdings of APTI. Teachers Advisors LLC bought a new stake in shares of Apptio in the fourth quarter worth $292,000. Wells Fargo & Company MN grew its stake in shares of Apptio by 322.6% in the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock worth $129,000 after purchasing an additional 8,400 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Apptio by 109.4% in the first quarter. Bank of New York Mellon Corp now owns 27,302 shares of the technology company’s stock worth $320,000 after purchasing an additional 14,261 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Apptio by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 63,283 shares of the technology company’s stock worth $742,000 after purchasing an additional 6,144 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Apptio by 584.3% in the first quarter. JPMorgan Chase & Co. now owns 59,661 shares of the technology company’s stock worth $700,000 after purchasing an additional 50,943 shares during the last quarter. 45.25% of the stock is currently owned by institutional investors.

About Apptio

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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