BidaskClub Downgrades Apptio (APTI) to Buy

Apptio (NASDAQ:APTI) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities analysts have also issued reports about the company. Oppenheimer reissued a “buy” rating and set a $31.00 price objective on shares of Apptio in a report on Tuesday, January 30th. Zacks Investment Research raised Apptio from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Thursday, February 8th. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective (up from $23.00) on shares of Apptio in a report on Tuesday, October 31st. Bank of America increased their price objective on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, KeyCorp reissued a “buy” rating and set a $27.00 price objective on shares of Apptio in a report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.50.

Apptio (NASDAQ APTI) opened at $25.02 on Wednesday. Apptio has a twelve month low of $10.77 and a twelve month high of $26.99. The firm has a market capitalization of $1,002.43, a price-to-earnings ratio of -38.49 and a beta of 0.96.

Apptio (NASDAQ:APTI) last announced its quarterly earnings data on Monday, February 5th. The technology company reported ($0.06) earnings per share 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 business had revenue of $52.40 million during the quarter, compared to analyst estimates of $49.93 million. During the same period in the prior year, the company earned ($0.11) earnings per share. Apptio’s revenue was up 18.3% compared to the same quarter last year. equities analysts anticipate that Apptio will post -0.44 EPS for the current fiscal year.

In other news, Director Matthew S. Mcilwain sold 32,500 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $24.92, for a total value of $809,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sachin Gupta sold 71,800 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $22.65, for a total value of $1,626,270.00. The disclosure for this sale can be found here. Insiders sold 431,085 shares of company stock valued at $9,742,845 over the last ninety days. Corporate insiders own 43.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of APTI. FMR LLC raised its position in shares of Apptio by 113.5% in the second 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 in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Apptio in the second quarter worth $12,320,000. GMT Capital Corp raised its position in shares of Apptio by 59.7% in the third 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 in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Apptio in the third quarter worth $7,407,000. Finally, Vanguard Group Inc. raised its position in shares of Apptio by 117.7% in the second 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 in the last quarter. 45.54% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

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