Bank of Montreal Can Sells 85,664 Shares of Apptio Inc. (APTI)

Bank of Montreal Can cut its holdings in shares of Apptio Inc. (NASDAQ:APTI) by 25.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 247,020 shares of the technology company’s stock after selling 85,664 shares during the quarter. Bank of Montreal Can’s holdings in Apptio were worth $5,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APTI. FMR LLC raised its position in Apptio by 113.5% during the 2nd quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock worth $35,432,000 after buying an additional 1,085,566 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Apptio during the 2nd quarter worth approximately $12,320,000. GMT Capital Corp raised its position in Apptio by 59.7% during the 3rd quarter. GMT Capital Corp now owns 1,617,314 shares of the technology company’s stock worth $29,872,000 after buying an additional 604,300 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Apptio during the 3rd quarter worth approximately $7,407,000. Finally, Vanguard Group Inc. raised its position in Apptio by 117.7% during the 2nd quarter. Vanguard Group Inc. now owns 664,629 shares of the technology company’s stock worth $11,532,000 after buying an additional 359,373 shares during the last quarter. 45.46% of the stock is owned by institutional investors.

In related news, insider John C. Morrow sold 60,455 shares of Apptio stock in a transaction on Friday, November 24th. The shares were sold at an average price of $22.65, for a total value of $1,369,305.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kurt Shintaffer sold 20,000 shares of Apptio stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 727,185 shares of company stock valued at $16,070,951. Insiders own 43.20% of the company’s stock.

A number of equities analysts have issued reports on APTI shares. Oppenheimer reissued a “buy” rating and set a $25.00 price target on shares of Apptio in a research report on Tuesday, October 24th. BidaskClub raised shares of Apptio from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Zacks Investment Research lowered shares of Apptio from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. KeyCorp reaffirmed a “buy” rating and set a $25.00 target price on shares of Apptio in a report on Wednesday, November 1st. Finally, JMP Securities initiated coverage on shares of Apptio in a report on Monday, November 27th. They set an “outperform” rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Apptio has an average rating of “Buy” and a consensus target price of $26.44.

Apptio Inc. (NASDAQ APTI) opened at $25.92 on Friday. The firm has a market cap of $1,040.00 and a P/E ratio of -38.12. Apptio Inc. has a 1-year low of $10.77 and a 1-year high of $26.36.

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Apptio Company Profile

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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Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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