JPMorgan Chase & Co. acquired a new stake in shares of Apptio Inc. (NASDAQ:APTI) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 407,162 shares of the technology company’s stock, valued at approximately $7,407,000. JPMorgan Chase & Co. owned about 1.01% of Apptio as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APTI. Nationwide Fund Advisors raised its stake in shares of Apptio by 244.9% during the 2nd quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock valued at $177,000 after buying an additional 7,242 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Apptio in the 2nd quarter valued at about $207,000. The Manufacturers Life Insurance Company increased its stake in shares of Apptio by 321.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,254 shares of the technology company’s stock valued at $265,000 after purchasing an additional 11,633 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Apptio in the 2nd quarter valued at about $314,000. Finally, HighTower Advisors LLC increased its stake in shares of Apptio by 22.9% in the 2nd quarter. HighTower Advisors LLC now owns 18,752 shares of the technology company’s stock valued at $324,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 45.56% of the company’s stock.
In other Apptio news, insider Sachin Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $21.59, for a total transaction of $1,727,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Pick sold 171,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $21.83, for a total value of $3,732,930.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 727,185 shares of company stock valued at $16,070,951. 43.20% of the stock is owned by company insiders.
Apptio (NASDAQ:APTI) last posted its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The company had revenue of $47.00 million during the quarter, compared to analyst estimates of $44.86 million. During the same period in the previous year, the business earned ($0.45) EPS. Apptio’s quarterly revenue was up 15.8% on a year-over-year basis. analysts expect that Apptio Inc. will post -0.69 EPS for the current year.
Several equities analysts recently weighed in on the company. Bank of America lifted their price target on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Oppenheimer restated a “buy” rating and issued a $27.00 price target on shares of Apptio in a research note on Thursday, November 9th. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price target (up previously from $23.00) on shares of Apptio in a research note on Tuesday, October 31st. Barclays lifted their price target on Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Finally, JMP Securities assumed coverage on Apptio in a research note on Monday, November 27th. They issued an “outperform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.78.
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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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