Cisco Systems Inc. Has $4,181,000 Position in Apptio Inc. (APTI)
Cisco Systems Inc. held its stake in shares of Apptio Inc. (NASDAQ:APTI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,972 shares of the technology company’s stock at the end of the second quarter. Apptio makes up about 0.6% of Cisco Systems Inc.’s holdings, making the stock its 4th largest position. Cisco Systems Inc. owned about 0.62% of Apptio worth $4,181,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in APTI. 1st Global Advisors Inc. acquired a new stake in shares of Apptio during the first quarter valued at $127,000. Wells Fargo & Company MN increased its stake in shares of Apptio by 322.6% in the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock valued at $129,000 after buying an additional 8,400 shares during the last quarter. Allen Holding Inc. NY acquired a new stake in shares of Apptio during the first quarter valued at $148,000. Pier 88 Investment Partners LLC acquired a new stake in shares of Apptio during the first quarter valued at $170,000. Finally, HighTower Advisors LLC increased its stake in shares of Apptio by 1.7% in the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock valued at $179,000 after buying an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 27.33% of the company’s stock.
Apptio Inc. (NASDAQ:APTI) opened at 16.55 on Monday. The firm’s market cap is $661.26 million. Apptio Inc. has a 12-month low of $10.77 and a 12-month high of $24.60. The firm has a 50-day moving average price of $17.07 and a 200 day moving average price of $14.90.
Apptio (NASDAQ:APTI) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Apptio had a negative return on equity of 41.76% and a negative net margin of 17.36%. The company had revenue of $45.23 million during the quarter, compared to analysts’ expectations of $43.72 million. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts forecast that Apptio Inc. will post ($0.37) EPS for the current year.
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Several analysts recently weighed in on the company. Zacks Investment Research downgraded Apptio from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Royal Bank Of Canada upped their price target on Apptio from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. began coverage on Apptio in a report on Thursday, July 27th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, J P Morgan Chase & Co raised Apptio from a “neutral” rating to an “overweight” rating and upped their price target for the company from $16.00 to $18.00 in a report on Wednesday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.00.
In related news, insider Christopher Pick sold 170,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $16.05, for a total value of $2,728,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 43.20% of the company’s stock.
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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