BidaskClub Downgrades Apptio (APTI) to Buy

Apptio (NASDAQ:APTI) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised their price target on shares of Apptio from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Oppenheimer reaffirmed a “buy” rating and set a $27.00 price target on shares of Apptio in a research note on Thursday, November 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target (up from $23.00) on shares of Apptio in a research note on Tuesday, October 31st. Barclays raised their price target on shares of Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st. Finally, KeyCorp reissued a “buy” rating and issued a $27.00 target price on shares of Apptio in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $24.50.

Shares of Apptio (APTI) opened at $24.79 on Thursday. Apptio has a 12 month low of $10.77 and a 12 month high of $25.49. The stock has a market cap of $1,000.00 and a PE ratio of -36.46.

Apptio (NASDAQ:APTI) last released its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The company had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $44.86 million. During the same period last year, the company earned ($0.45) EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. research analysts predict that Apptio will post -0.69 EPS for the current year.

In related news, insider Sachin Gupta sold 71,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $22.65, for a total value of $1,626,270.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Pick sold 171,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $21.83, for a total transaction of $3,732,930.00. The disclosure for this sale can be found here. Insiders sold 727,185 shares of company stock worth $16,070,951 over the last three months. Corporate insiders own 43.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of APTI. Schwab Charles Investment Management Inc. raised its holdings in Apptio by 163.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,000 shares of the technology company’s stock valued at $521,000 after buying an additional 18,600 shares during the period. Rhumbline Advisers purchased a new position in Apptio in the second quarter valued at approximately $336,000. Bank of New York Mellon Corp raised its holdings in Apptio by 73.4% in the second quarter. Bank of New York Mellon Corp now owns 47,342 shares of the technology company’s stock valued at $821,000 after buying an additional 20,040 shares during the period. Alliancebernstein L.P. purchased a new position in Apptio in the second quarter valued at approximately $314,000. Finally, Teachers Advisors LLC purchased a new position in Apptio in the second quarter valued at approximately $563,000. Hedge funds and other institutional investors own 45.56% of the company’s stock.

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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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

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