Apptio Inc. (APTI) Short Interest Update
Apptio Inc. (NASDAQ:APTI) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 406,675 shares, a drop of 28.1% from the August 31st total of 565,865 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 181,899 shares, the short-interest ratio is currently 2.2 days.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Apptio from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, August 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 target price (up previously from $19.00) on shares of Apptio in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. assumed coverage on Apptio in a report on Thursday, July 27th. They issued an “outperform” rating and a $25.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its holdings in Apptio by 244.9% during the 2nd quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock worth $177,000 after purchasing an additional 7,242 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Apptio by 322.6% in the 1st quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock valued at $129,000 after purchasing an additional 8,400 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Apptio in the 2nd quarter valued at about $207,000. Allen Holding Inc. NY acquired a new stake in shares of Apptio in the 1st quarter valued at about $148,000. Finally, HighTower Advisors LLC raised its stake in shares of Apptio by 1.7% in the 1st quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock valued at $179,000 after purchasing an additional 252 shares during the period. 45.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Apptio (APTI) opened at 18.77 on Tuesday. The stock’s market capitalization is $413.09 million. The stock has a 50 day moving average of $17.70 and a 200-day moving average of $17.70. Apptio has a 52-week low of $12.80 and a 52-week high of $22.10.
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 the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. Apptio had a negative net margin of 17.36% and a negative return on equity of 41.76%. The company had revenue of $45.23 million during the quarter, compared to the consensus estimate of $43.72 million. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that Apptio will post ($0.37) EPS for the current fiscal year.
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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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