Zacks Investment Research Lowers Apptio Inc (APTI) to Sell

Apptio Inc (NASDAQ:APTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday, May 8th.

According to Zacks, “Apptio, Inc. is a provider of cloud-based technology business management software for managing business of information technology. It offers cloud application which includes Apptio Cost Transparency, Apptio IT Planning, Apptio IT Benchmarking, Apptio Business Insights and Apptio Bill of IT. The company also offers Data Studio, Model Studio and Report Studio under TBM Studio. Apptio, Inc. is based in Bellevue, United States. “

A number of other analysts have also commented on APTI. JPMorgan Chase & Co. upgraded Apptio from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $16.00 to $18.00 in a research report on Wednesday, April 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Apptio in a research report on Wednesday, January 18th. Royal Bank of Canada upgraded Apptio from a “sector perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Thursday, February 2nd. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $22.00 price objective (down from $24.00) on shares of Apptio in a research report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.00.

Analyst Recommendations for Apptio (NASDAQ:APTI)

Shares of Apptio (NASDAQ:APTI) traded down 0.79% during mid-day trading on Monday, hitting $15.13. 640,969 shares of the company traded hands. The firm’s market cap is $584.82 million. Apptio has a 52-week low of $10.77 and a 52-week high of $24.60. The firm has a 50-day moving average price of $12.71 and a 200 day moving average price of $15.38.

Apptio (NASDAQ:APTI) last announced its earnings results on Thursday, May 4th. The technology company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.04. The business had revenue of $43.90 million during the quarter, compared to analyst estimates of $42.46 million. During the same quarter last year, the business posted ($0.31) earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that Apptio will post ($0.41) EPS for the current fiscal year.

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In related news, CRO Lawrence Blasko sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $13.51, for a total transaction of $67,550.00. Following the transaction, the executive now directly owns 5,000 shares of the company’s stock, valued at approximately $67,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Greylock Xii Gp Llc sold 3,009,883 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $13.00, for a total value of $39,128,479.00. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in APTI. Whetstone Capital Advisors LLC bought a new stake in Apptio during the first quarter worth $6,506,000. Clearline Capital LP bought a new stake in shares of Apptio during the first quarter valued at $5,016,000. Formula Growth Ltd. acquired a new stake in shares of Apptio during the first quarter valued at approximately $2,933,000. Pax World Management LLC raised its position in shares of Apptio by 38.0% in the first quarter. Pax World Management LLC now owns 658,270 shares of the technology company’s stock valued at $7,722,000 after buying an additional 181,098 shares during the last quarter. Finally, Janus Capital Management LLC raised its position in shares of Apptio by 23.6% in the fourth quarter. Janus Capital Management LLC now owns 740,522 shares of the technology company’s stock valued at $13,722,000 after buying an additional 141,373 shares during the last quarter.

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.

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