Zacks Investment Research lowered shares of Apptio Inc. (NASDAQ:APTI) from a buy rating to a hold rating in a report published on Tuesday.

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. “

A number of other equities research analysts have also recently weighed in on the stock. Oppenheimer Holdings, Inc. initiated coverage on shares of Apptio in a report on Thursday, July 27th. They issued an outperform rating and a $25.00 price objective on the stock. Royal Bank Of Canada upped their price objective on shares of Apptio from $19.00 to $21.00 and gave the stock an outperform rating in a report on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Apptio has an average rating of Buy and an average price target of $23.00.

Apptio (NASDAQ APTI) opened at 18.62 on Tuesday. Apptio has a 12 month low of $12.80 and a 12 month high of $21.19. The company’s market cap is $743.96 million. The company has a 50-day moving average of $17.87 and a 200 day moving average of $17.87.

Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analysts’ expectations of $43.72 million. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that Apptio will post ($0.37) earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in Apptio by 322.6% in the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock worth $129,000 after purchasing an additional 8,400 shares during the period. Allen Holding Inc. NY purchased a new stake in Apptio in the first quarter worth about $148,000. Nationwide Fund Advisors grew its holdings in Apptio by 244.9% in the second 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 during the period. HighTower Advisors LLC grew its holdings in Apptio by 1.7% in the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock worth $179,000 after purchasing an additional 252 shares during the period. Finally, IHT Wealth Management LLC purchased a new stake in Apptio in the first quarter worth about $193,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

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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