GW&K Investment Management LLC Acquires Shares of 123,228 Apptio Inc (APTI)

GW&K Investment Management LLC acquired a new position in Apptio Inc (NASDAQ:APTI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 123,228 shares of the technology company’s stock, valued at approximately $4,555,000. GW&K Investment Management LLC owned about 0.28% of Apptio as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in APTI. First Mercantile Trust Co. raised its position in Apptio by 134.6% during the second quarter. First Mercantile Trust Co. now owns 2,940 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,687 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in Apptio during the second quarter valued at approximately $253,000. California Public Employees Retirement System purchased a new position in Apptio during the first quarter valued at approximately $269,000. Verition Fund Management LLC purchased a new position in Apptio during the second quarter valued at approximately $287,000. Finally, Institute for Wealth Management LLC. purchased a new position in Apptio during the second quarter valued at approximately $398,000. Hedge funds and other institutional investors own 72.72% of the company’s stock.

Shares of APTI opened at $37.71 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.70. Apptio Inc has a 12 month low of $21.15 and a 12 month high of $41.36. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -58.92 and a beta of 1.62.

Apptio (NASDAQ:APTI) last issued its quarterly earnings data on Monday, October 29th. The technology company reported $0.05 EPS for the quarter, beating the 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 for the quarter, compared to analyst estimates of $58.09 million. During the same period last year, the company earned $0.01 earnings per share. Apptio’s quarterly revenue was up 26.0% compared to the same quarter last year. Research analysts anticipate that Apptio Inc will post -0.4 earnings per share for the current year.

In other Apptio news, insider John C. Morrow sold 1,201 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $38.20, for a total value of $45,878.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurt Shintaffer sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $25.02, for a total value of $750,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,924 shares of company stock worth $6,234,490. 24.16% of the stock is owned by corporate insiders.

Several brokerages recently weighed in on APTI. Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Friday, November 2nd. Royal Bank of Canada reduced their price target on Apptio to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, October 30th. Jefferies Financial Group reduced their price target on Apptio from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Nomura reduced their price target on Apptio from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Finally, Barclays reduced their price target on Apptio from $37.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $33.80.

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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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Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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