Apptio (APTI) Given “Buy” Rating at KeyCorp
Several other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Apptio from a buy rating to a strong-buy rating in a research report on Friday, January 5th. Zacks Investment Research downgraded shares of Apptio from a buy rating to a hold rating in a research report on Tuesday, January 2nd. JMP Securities started coverage on shares of Apptio in a research report on Monday, November 27th. They issued an outperform rating and a $28.00 target price for the company. Oppenheimer reaffirmed a buy rating and issued a $27.00 target price on shares of Apptio in a research report on Thursday, November 9th. Finally, Bank of America lifted their target price on shares of Apptio from $20.00 to $25.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Apptio presently has an average rating of Buy and a consensus target price of $25.00.
Shares of Apptio (NASDAQ:APTI) traded down $0.09 on Wednesday, hitting $24.42. 221,864 shares of the company traded hands, compared to its average volume of 371,578. The company has a market capitalization of $986.27, a P/E ratio of -35.39 and a beta of 0.54. Apptio has a 12 month low of $10.77 and a 12 month high of $25.49.
In other news, insider John C. Morrow sold 60,455 shares of Apptio stock in a transaction on Friday, November 24th. The shares were sold at an average price of $22.65, for a total transaction of $1,369,305.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sachin Gupta sold 71,800 shares of Apptio stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $22.65, for a total transaction of $1,626,270.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 727,185 shares of company stock valued at $16,070,951. 43.20% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Rubric Capital Management LP boosted its stake in shares of Apptio by 11.9% during the 3rd quarter. Rubric Capital Management LP now owns 668,628 shares of the technology company’s stock worth $12,350,000 after acquiring an additional 71,318 shares during the last quarter. Granahan Investment Management Inc. MA boosted its stake in shares of Apptio by 21.4% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 177,300 shares of the technology company’s stock worth $3,275,000 after acquiring an additional 31,216 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Apptio during the 3rd quarter worth $353,000. Engineers Gate Manager LP purchased a new position in shares of Apptio during the 3rd quarter worth $549,000. Finally, California State Teachers Retirement System boosted its stake in shares of Apptio by 12.3% during the 3rd quarter. California State Teachers Retirement System now owns 35,252 shares of the technology company’s stock worth $651,000 after acquiring an additional 3,852 shares during the last quarter. Institutional investors and hedge funds own 45.56% of the company’s stock.
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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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