California State Teachers Retirement System Acquires 17,400 Shares of Apptio Inc. (APTI)

California State Teachers Retirement System raised its holdings in Apptio Inc. (NASDAQ:APTI) by 124.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,400 shares of the technology company’s stock after purchasing an additional 17,400 shares during the period. California State Teachers Retirement System owned 0.08% of Apptio worth $545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of Apptio by 321.3% in the second quarter. The Manufacturers Life Insurance Company now owns 15,254 shares of the technology company’s stock worth $265,000 after purchasing an additional 11,633 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Apptio in the second quarter worth about $207,000. State Street Corp increased its stake in shares of Apptio by 145.6% in the second quarter. State Street Corp now owns 240,619 shares of the technology company’s stock worth $4,176,000 after purchasing an additional 142,628 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Apptio in the second quarter worth about $12,320,000. Finally, HighTower Advisors LLC increased its stake in shares of Apptio by 22.9% in the second quarter. HighTower Advisors LLC now owns 18,752 shares of the technology company’s stock worth $324,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 45.56% of the company’s stock.

In other Apptio news, insider Christopher Pick sold 171,000 shares of Apptio stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $21.83, for a total transaction of $3,732,930.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Lawrence Blasko sold 45,000 shares of Apptio stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $21.84, for a total transaction of $982,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 604,792 shares of company stock valued at $13,331,635. 43.20% of the stock is currently owned by company insiders.

A number of equities analysts have recently commented on APTI shares. Oppenheimer restated a “buy” rating and issued a $25.00 price objective on shares of Apptio in a research report on Tuesday, October 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 price objective (up from $23.00) on shares of Apptio in a research report on Tuesday, October 31st. Bank of America raised their price objective on shares of Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. KeyCorp restated a “buy” rating and issued a $22.00 price objective on shares of Apptio in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded shares of Apptio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $24.78.

Apptio Inc. (NASDAQ APTI) opened at $21.85 on Wednesday. Apptio Inc. has a 1 year low of $10.77 and a 1 year high of $24.50.

Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The company had revenue of $47.00 million during the quarter, compared to analyst estimates of $44.86 million. During the same period last year, the business earned ($0.45) earnings per share. Apptio’s revenue was up 15.8% compared to the same quarter last year. equities analysts expect that Apptio Inc. will post -0.69 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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