Apptio Inc. (APTI) Downgraded by Zacks Investment Research to Hold
Apptio Inc. (NASDAQ:APTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
Several other equities research analysts have also recently weighed in on APTI. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Apptio in a research note on Wednesday, August 9th. Oppenheimer Holdings Inc. started coverage on Apptio in a research report on Thursday, July 27th. They set an “outperform” rating and a $25.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Apptio presently has a consensus rating of “Buy” and an average price target of $23.00.
Shares of Apptio (NASDAQ:APTI) traded up 0.48% during midday trading on Tuesday, reaching $18.86. The company had a trading volume of 322,108 shares. Apptio has a 52 week low of $12.80 and a 52 week high of $21.19. The firm’s market capitalization is $753.55 million. The stock has a 50-day moving average of $17.77 and a 200 day moving average of $17.77.
Apptio (NASDAQ:APTI) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.04. Apptio had a negative net margin of 17.36% and a negative return on equity of 41.76%. The firm had revenue of $45.23 million for the quarter, compared to analysts’ expectations of $43.72 million. Apptio’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts anticipate that Apptio will post ($0.37) earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC purchased a new position in shares of Apptio during the 4th quarter worth about $292,000. Wells Fargo & Company MN grew its holdings in Apptio by 322.6% during the 1st quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock valued at $129,000 after purchasing an additional 8,400 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Apptio by 109.4% during the 1st quarter. Bank of New York Mellon Corp now owns 27,302 shares of the technology company’s stock valued at $320,000 after purchasing an additional 14,261 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Apptio by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 63,283 shares of the technology company’s stock valued at $742,000 after purchasing an additional 6,144 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK bought a new position in Apptio during the 1st quarter valued at about $298,000. Hedge funds and other institutional investors own 45.25% of the company’s stock.
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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