State Street Corp Grows Holdings in Apptio Inc. (APTI)

State Street Corp grew its position in shares of Apptio Inc. (NASDAQ:APTI) by 145.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,619 shares of the technology company’s stock after purchasing an additional 142,628 shares during the period. State Street Corp owned approximately 0.60% of Apptio worth $4,176,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Nationwide Fund Advisors raised its stake in shares of Apptio by 244.9% in the second quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock valued at $177,000 after acquiring an additional 7,242 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Apptio in the second quarter valued at $314,000. HighTower Advisors LLC raised its stake in shares of Apptio by 22.9% in the second quarter. HighTower Advisors LLC now owns 18,752 shares of the technology company’s stock valued at $324,000 after acquiring an additional 3,500 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Apptio by 156.7% in the second quarter. New York State Common Retirement Fund now owns 19,000 shares of the technology company’s stock valued at $330,000 after acquiring an additional 11,599 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of Apptio in the second quarter valued at $336,000. Institutional investors own 45.56% of the company’s stock.

Several brokerages have recently issued reports on APTI. Bank of America increased their price objective on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Oppenheimer reiterated a “buy” rating and issued a $27.00 price objective on shares of Apptio in a research note on Thursday, November 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $24.00 price objective (up from $23.00) on shares of Apptio in a research note on Tuesday, October 31st. Barclays increased their price objective 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 began coverage on Apptio in a research note on Monday, November 27th. They issued an “outperform” rating and a $28.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $24.78.

In other Apptio news, insider Sachin Gupta sold 80,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $21.59, for a total value of $1,727,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Pick sold 171,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were 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 90 days, insiders sold 655,385 shares of company stock worth $14,444,681. 43.20% of the stock is owned by insiders.

Shares of Apptio Inc. (NASDAQ APTI) opened at $22.97 on Friday. Apptio Inc. has a 52 week low of $10.77 and a 52 week high of $24.50.

Apptio (NASDAQ:APTI) last posted its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $44.86 million. During the same period last year, the firm earned ($0.45) earnings per share. Apptio’s quarterly revenue was up 15.8% on a year-over-year basis. equities analysts expect that Apptio Inc. will post -0.69 EPS for the current fiscal year.

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Apptio 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.

Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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