Chicago Equity Partners LLC Sells 161,825 Shares of Apptio Inc (APTI)
Chicago Equity Partners LLC lowered its position in shares of Apptio Inc (NASDAQ:APTI) by 81.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,030 shares of the technology company’s stock after selling 161,825 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.08% of Apptio worth $1,332,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in APTI. BlackRock Inc. raised its position in shares of Apptio by 72.3% during the second quarter. BlackRock Inc. now owns 2,188,265 shares of the technology company’s stock worth $79,215,000 after acquiring an additional 918,403 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Apptio by 136.6% during the second quarter. Macquarie Group Ltd. now owns 1,040,239 shares of the technology company’s stock worth $37,657,000 after acquiring an additional 600,662 shares during the last quarter. Fred Alger Management Inc. raised its position in shares of Apptio by 85.2% during the second quarter. Fred Alger Management Inc. now owns 1,301,204 shares of the technology company’s stock worth $47,104,000 after acquiring an additional 598,662 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Apptio in the second quarter valued at about $13,322,000. Finally, Nomura Holdings Inc. increased its holdings in Apptio by 3,597.0% in the second quarter. Nomura Holdings Inc. now owns 372,994 shares of the technology company’s stock valued at $13,502,000 after purchasing an additional 362,905 shares during the last quarter. Institutional investors own 72.72% of the company’s stock.
In other Apptio news, Director Matthew S. Mcilwain sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $26.00, for a total value of $65,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Lawrence Blasko sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $40.02, for a total value of $1,200,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,924 shares of company stock valued at $6,811,820. Insiders own 24.16% of the company’s stock.
Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $59.22 million during the quarter, compared to the consensus estimate of $58.09 million. Apptio had a negative return on equity of 15.14% and a negative net margin of 11.06%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, equities research analysts predict that Apptio Inc will post -0.4 EPS for the current year.
A number of equities research analysts recently commented on APTI shares. Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 price objective on shares of Apptio in a report on Tuesday, July 31st. BidaskClub downgraded Apptio from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Barclays upped their price objective on Apptio from $32.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 2nd. Bank of America upped their price objective on Apptio from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $33.80.
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Apptio, Inc provides cloud-based technology business management (TBM) solutions to enterprises. Its cloud-based platform and SaaS applications enable IT leaders to analyze, optimize, and plan technology investments, as well as to benchmark financial and operational performance against peers. The company's TBM solutions consist of adaptive data management, which aggregates, cleanses, and correlates large amounts of customer data from various sources; and standard IT operating model and taxonomy that offers a standard model for how IT costs are captured, categorized, and allocated to IT and business services.
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