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.
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, 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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