Rhumbline Advisers purchased a new stake in Apptio Inc. (NASDAQ:APTI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,384 shares of the technology company’s stock, valued at approximately $336,000. Rhumbline Advisers owned approximately 0.05% of Apptio as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in APTI. Wells Fargo & Company MN increased its position 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 in the last quarter. Allen Holding Inc. NY purchased a new position in shares of Apptio in the first quarter valued at $148,000. HighTower Advisors LLC increased its position 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 in the last quarter. IHT Wealth Management LLC purchased a new position in shares of Apptio in the first quarter valued at $193,000. Finally, Teachers Advisors LLC purchased a new position in shares of Apptio in the fourth quarter valued at $292,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

Apptio Inc. (NASDAQ:APTI) opened at 18.96 on Monday. The stock’s market cap is $757.55 million. The stock has a 50 day moving average price of $17.93 and a 200-day moving average price of $17.93. Apptio Inc. has a 12 month low of $10.77 and a 12 month high of $21.19.

Apptio (NASDAQ:APTI) last announced its earnings results 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. The company had revenue of $45.23 million for the quarter, compared to analyst estimates of $43.72 million. Apptio had a negative return on equity of 41.76% and a negative net margin of 17.36%. Apptio’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts expect that Apptio Inc. will post ($0.37) EPS for the current year.

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A number of research analysts have recently weighed in on APTI shares. Zacks Investment Research upgraded Apptio from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Oppenheimer Holdings, Inc. started coverage on Apptio in a research report on Thursday, July 27th. They issued an “outperform” rating and a $25.00 price target for the company. Royal Bank Of Canada raised their price target on Apptio from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Finally, KeyCorp restated a “buy” rating and issued a $22.00 price target on shares of Apptio in a research report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.90.

Apptio 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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Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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