Apptio Inc. (APTI) Receives Consensus Recommendation of “Buy” from Analysts
Apptio Inc. (NASDAQ:APTI) has earned an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $24.78.
A number of equities research analysts have recently commented on APTI shares. KeyCorp reaffirmed a “buy” rating and set a $22.00 price target on shares of Apptio in a research report on Friday, October 6th. Oppenheimer reaffirmed a “buy” rating and set a $27.00 price target (up previously from $25.00) on shares of Apptio in a research report on Tuesday, October 31st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $21.00 price target on shares of Apptio in a research report on Tuesday, October 10th. Zacks Investment Research lowered Apptio from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, JMP Securities started coverage on Apptio in a research report on Monday, November 27th. They set an “outperform” rating and a $28.00 price target on the stock.
Apptio (NASDAQ:APTI) traded up $0.72 during midday trading on Thursday, hitting $22.97. The stock had a trading volume of 864,057 shares, compared to its average volume of 336,762. Apptio has a 52 week low of $10.77 and a 52 week high of $24.50.
In related news, insider Christopher Pick sold 171,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $21.83, for a total transaction of $3,732,930.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sachin Gupta sold 80,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $21.59, for a total value of $1,727,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 655,385 shares of company stock valued at $14,444,681. 43.20% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of APTI. SQN Investors LP bought a new position in shares of Apptio during the second quarter worth about $23,378,000. FMR LLC grew its holdings in shares of Apptio by 113.5% during the second quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock worth $35,432,000 after buying an additional 1,085,566 shares in the last quarter. GMT Capital Corp bought a new position in shares of Apptio during the second quarter worth about $17,495,000. Janus Henderson Group PLC bought a new position in shares of Apptio during the second quarter worth about $12,320,000. Finally, Rubric Capital Management LP bought a new position in shares of Apptio during the second quarter worth about $10,363,000. Institutional investors and hedge funds own 45.56% of the company’s stock.
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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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