Schwab Charles Investment Management Inc. lifted its holdings in Apptio Inc. (NASDAQ:APTI) by 163.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,000 shares of the technology company’s stock after purchasing an additional 18,600 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.08% of Apptio worth $521,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Pier 88 Investment Partners LLC grew its position in shares of Apptio by 115.4% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 31,240 shares of the technology company’s stock valued at $542,000 after purchasing an additional 16,740 shares during the period. Bank of Montreal Can acquired a new position in shares of Apptio in the 2nd quarter valued at approximately $6,309,000. Goldman Sachs Group Inc. acquired a new position in shares of Apptio in the 1st quarter valued at approximately $1,191,000. HighTower Advisors LLC grew its position in shares of Apptio by 1.7% in the 1st quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock valued at $179,000 after purchasing an additional 252 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Apptio in the 1st quarter valued at approximately $954,000. Institutional investors and hedge funds own 45.27% of the company’s stock.
APTI has been the topic of several research reports. Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $25.00 target price on shares of Apptio in a research note on Tuesday, October 24th. Royal Bank Of Canada restated a “buy” rating and issued a $21.00 target price on shares of Apptio in a research note on Tuesday, October 10th. KeyCorp restated a “buy” rating and issued a $22.00 target price on shares of Apptio in a research note on Friday, October 6th. Finally, Bank of America Corporation boosted their target price on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.38.
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Shares of Apptio Inc. (APTI) opened at $23.40 on Friday. Apptio Inc. has a 12 month low of $10.77 and a 12 month high of $24.50.
Apptio (NASDAQ:APTI) last released its earnings results on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The firm had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $44.86 million. During the same quarter in the previous year, the business posted ($0.45) EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. equities analysts expect that Apptio Inc. will post -0.69 EPS 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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