Matthew S. Mcilwain Sells 2,500 Shares of Apptio Inc (APTI) Stock

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Apptio Inc (NASDAQ:APTI) Director Matthew S. Mcilwain sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $26.00, for a total value of $65,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of APTI traded down $0.86 during mid-day trading on Friday, reaching $24.85. The company’s stock had a trading volume of 377,885 shares, compared to its average volume of 709,354. Apptio Inc has a 1-year low of $21.15 and a 1-year high of $41.36. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -38.83 and a beta of 1.62. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.70.

Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Apptio had a negative return on equity of 15.14% and a negative net margin of 11.06%. The company had revenue of $59.22 million during the quarter, compared to analysts’ expectations of $58.09 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. As a group, analysts expect that Apptio Inc will post -0.4 earnings per share for the current year.

A number of research firms have recently issued reports on APTI. BidaskClub cut Apptio from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Apptio in a research report on Tuesday, July 31st. Jefferies Financial Group raised their price objective on Apptio to $47.00 and gave the company a “buy” rating in a research report on Thursday, September 13th. Bank of America raised their price objective on Apptio from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised Apptio from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Apptio currently has a consensus rating of “Buy” and a consensus price target of $33.80.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its holdings in Apptio by 2.7% during the 2nd quarter. Bank of Montreal Can now owns 57,740 shares of the technology company’s stock worth $2,090,000 after purchasing an additional 1,495 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in Apptio by 134.6% during the 2nd quarter. First Mercantile Trust Co. now owns 2,940 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,687 shares during the last quarter. Institute for Wealth Management LLC. lifted its holdings in Apptio by 23.7% during the 3rd quarter. Institute for Wealth Management LLC. now owns 13,600 shares of the technology company’s stock worth $503,000 after purchasing an additional 2,609 shares during the last quarter. Raymond James & Associates lifted its holdings in Apptio by 11.4% during the 2nd quarter. Raymond James & Associates now owns 25,486 shares of the technology company’s stock worth $923,000 after purchasing an additional 2,611 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Apptio by 22.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,935 shares of the technology company’s stock worth $649,000 after purchasing an additional 3,270 shares during the last quarter. 72.63% of the stock is owned by institutional investors and hedge funds.

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About Apptio

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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