Northern Trust Corp grew its holdings in Apptio Inc. (NASDAQ:APTI) by 151.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 180,381 shares of the technology company’s stock after buying an additional 108,553 shares during the quarter. Northern Trust Corp owned approximately 0.46% of Apptio worth $3,130,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its holdings in Apptio by 156.7% in the 2nd quarter. New York State Common Retirement Fund now owns 19,000 shares of the technology company’s stock worth $330,000 after buying an additional 11,599 shares during the period. Laurion Capital Management LP bought a new position in shares of Apptio in the 2nd quarter worth approximately $9,510,000. Nationwide Fund Advisors raised its position in shares of Apptio by 244.9% in the 2nd quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock worth $177,000 after acquiring an additional 7,242 shares in the last quarter. TIAA CREF Investment Management LLC bought a new position in shares of Apptio in the 2nd quarter worth approximately $1,180,000. Finally, Teachers Advisors LLC bought a new position in shares of Apptio in the 2nd quarter worth approximately $563,000. Institutional investors and hedge funds own 46.05% of the company’s stock.
In related news, insider Sachin Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $21.59, for a total transaction of $1,727,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Pick sold 171,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $21.83, for a total value of $3,732,930.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,337 shares of company stock valued at $10,178,329. 43.20% of the stock is owned by corporate insiders.
Apptio (NASDAQ:APTI) last posted its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $47.00 million during the quarter, compared to analyst estimates of $44.86 million. During the same quarter last year, the company earned ($0.45) EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. equities research analysts predict that Apptio Inc. will post -0.69 EPS for the current fiscal year.
APTI has been the subject of several research reports. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $25.00 target price on shares of Apptio in a research report on Tuesday, October 24th. KeyCorp reissued a “buy” rating and issued a $22.00 target price on shares of Apptio in a research report on Friday, October 6th. Zacks Investment Research lowered Apptio from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Royal Bank Of Canada increased their target price on Apptio from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC increased their target price on Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.38.
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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