Apptio (APTI) Lowered to Hold at Zacks Investment Research

Apptio (NASDAQ:APTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Apptio, Inc. is a provider of cloud-based technology business management software for managing business of information technology. It offers cloud application which includes Apptio Cost Transparency, Apptio IT Planning, Apptio IT Benchmarking, Apptio Business Insights and Apptio Bill of IT. The company also offers Data Studio, Model Studio and Report Studio under TBM Studio. Apptio, Inc. is based in Bellevue, United States. “

Several other analysts also recently issued reports on the company. Oppenheimer reiterated a “buy” rating and issued a $25.00 price target on shares of Apptio in a report on Tuesday, October 24th. JMP Securities started coverage on Apptio in a report on Monday, November 27th. They issued an “outperform” rating and a $28.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price target (up from $23.00) on shares of Apptio in a report on Tuesday, October 31st. Bank of America increased their price target on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, Nomura began coverage on Apptio in a report on Tuesday, January 23rd. They issued a “buy” rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.50.

Shares of Apptio (NASDAQ APTI) traded up $0.60 during midday trading on Friday, reaching $24.84. The company had a trading volume of 745,878 shares, compared to its average volume of 516,656. Apptio has a 52-week low of $10.77 and a 52-week high of $26.99. The firm has a market cap of $1,017.78, a P/E ratio of -38.21 and a beta of 0.96.

Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Monday, February 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Apptio had a negative return on equity of 35.28% and a negative net margin of 13.59%. The firm had revenue of $52.40 million during the quarter, compared to the consensus estimate of $49.93 million. During the same period in the prior year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. analysts predict that Apptio will post -0.45 EPS for the current year.

In other Apptio news, insider Sachin Gupta sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $22.16, for a total value of $1,772,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John C. Morrow sold 28,337 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $22.55, for a total transaction of $638,999.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 431,185 shares of company stock valued at $9,628,021. 43.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Apptio by 6.7% during the fourth quarter. Bank of New York Mellon Corp now owns 67,161 shares of the technology company’s stock worth $1,580,000 after purchasing an additional 4,192 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Apptio by 198.7% during the fourth quarter. Wells Fargo & Company MN now owns 65,735 shares of the technology company’s stock worth $1,546,000 after purchasing an additional 43,726 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Apptio during the fourth quarter worth about $400,000. Thompson Davis & CO. Inc. lifted its position in shares of Apptio by 3,900.0% during the fourth quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock worth $118,000 after purchasing an additional 4,875 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its position in shares of Apptio by 31.8% during the fourth quarter. Engineers Gate Manager LP now owns 39,150 shares of the technology company’s stock worth $921,000 after purchasing an additional 9,436 shares during the last quarter. 44.93% of the stock is owned by institutional investors.

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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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