Apptio Inc. (APTI) Receives Outperform Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Apptio Inc. (NASDAQ:APTI) in a research note issued to investors on Tuesday morning. Royal Bank Of Canada currently has a $24.00 target price on the technology company’s stock, up from their previous target price of $23.00.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Apptio from a sell rating to a hold rating in a research note on Wednesday, July 5th. KeyCorp restated a buy rating and issued a $22.00 price objective on shares of Apptio in a research note on Friday, October 6th. Finally, Oppenheimer Holdings, Inc. assumed coverage on Apptio in a research note on Thursday, July 27th. They issued an outperform rating and a $25.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $23.25.

Apptio (NASDAQ:APTI) traded down 5.711% during mid-day trading on Tuesday, reaching $22.865. The company’s stock had a trading volume of 524,073 shares. The company has a 50 day moving average of $18.45 and a 200-day moving average of $18.41. The stock’s market cap is $913.57 million. Apptio has a 52-week low of $10.77 and a 52-week high of $24.50.

Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.08. The firm had revenue of $47.00 million for the quarter, compared to analyst estimates of $44.86 million. Apptio had a negative return on equity of 37.40% and a negative net margin of 14.77%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share. Equities analysts forecast that Apptio will post ($0.37) earnings per share for the current year.

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A number of large investors have recently modified their holdings of APTI. Wells Fargo & Company MN grew its position in Apptio by 322.6% during the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock worth $129,000 after buying an additional 8,400 shares in the last quarter. Nationwide Fund Advisors grew its position in Apptio by 244.9% during the second quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock worth $177,000 after buying an additional 7,242 shares in the last quarter. HighTower Advisors LLC grew its position in Apptio by 1.7% during the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock worth $179,000 after buying an additional 252 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Apptio during the second quarter worth approximately $207,000. Finally, The Manufacturers Life Insurance Company grew its position in Apptio by 321.3% during the second quarter. The Manufacturers Life Insurance Company now owns 15,254 shares of the technology company’s stock worth $265,000 after buying an additional 11,633 shares in the last quarter. 45.27% of the stock is currently owned by institutional investors and hedge funds.

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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