Apptio (APTI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Apptio (NASDAQ:APTI) from a buy rating to a hold rating in a report released on Tuesday.

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 equities analysts have also recently weighed in on APTI. KeyCorp reaffirmed a buy rating and set a $22.00 price objective on shares of Apptio in a research report on Friday, October 6th. Royal Bank of Canada reaffirmed a buy rating and set a $21.00 price objective on shares of Apptio in a research report on Tuesday, October 10th. Oppenheimer reaffirmed a buy rating and set a $25.00 price objective on shares of Apptio in a research report on Tuesday, October 24th. Barclays raised their price target on shares of Apptio from $19.00 to $22.00 and gave the company an equal weight rating in a research report on Tuesday, October 31st. Finally, Bank of America raised their price target on shares of Apptio from $20.00 to $25.00 and gave the company a buy rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $24.78.

Apptio (APTI) traded up $0.31 during trading hours on Tuesday, hitting $24.35. 427,900 shares of the company were exchanged, compared to its average volume of 417,433. The stock has a market cap of $970.93, a PE ratio of -35.29 and a beta of 0.54. Apptio has a 1 year low of $10.77 and a 1 year high of $25.49.

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

In other Apptio news, CRO Lawrence Blasko sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $21.84, for a total value of $982,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sachin Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $21.59, for a total transaction of $1,727,200.00. The disclosure for this sale can be found here. Insiders sold a total of 727,185 shares of company stock valued at $16,070,951 in the last three months. 43.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of APTI. SQN Investors LP purchased a new position in Apptio in the 2nd quarter valued at approximately $23,378,000. FMR LLC raised its holdings in shares of Apptio by 113.5% in the 2nd quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock valued at $35,432,000 after purchasing an additional 1,085,566 shares in the last quarter. GMT Capital Corp acquired a new stake in shares of Apptio in the 2nd quarter valued at $17,495,000. Janus Henderson Group PLC acquired a new stake in shares of Apptio in the 2nd quarter valued at $12,320,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Apptio in the 2nd quarter valued at $9,510,000. 45.56% of the stock is owned by institutional investors.

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Apptio Company 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.

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