Zacks Investment Research Upgrades Apptio (APTI) to Buy

Apptio (NASDAQ:APTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $28.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.51% from the company’s current price.

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. “

APTI has been the topic of a number of other research reports. Oppenheimer restated a “buy” rating and set a $25.00 target price on shares of Apptio in a research note on Tuesday, October 24th. Royal Bank of Canada restated a “buy” rating and set a $29.00 target price on shares of Apptio in a research note on Friday, January 26th. Nomura began coverage on shares of Apptio in a research note on Tuesday, January 23rd. They set a “buy” rating and a $33.00 target price on the stock. BidaskClub cut shares of Apptio from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, KeyCorp restated a “buy” rating and set a $27.00 target price on shares of Apptio in a research note on Wednesday, January 10th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Apptio currently has an average rating of “Buy” and an average price target of $28.50.

Apptio (APTI) traded down $0.96 on Thursday, hitting $24.24. 821,709 shares of the company were exchanged, compared to its average volume of 517,400. The stock has a market capitalization of $1,069.07, a P/E ratio of -37.43 and a beta of 0.96. Apptio has a one year low of $10.77 and a one year high of $26.99.

Apptio (NASDAQ:APTI) last posted its quarterly earnings data on Monday, February 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $52.40 million for the quarter, compared to the consensus estimate of $49.93 million. Apptio had a negative net margin of 13.59% and a negative return on equity of 35.28%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) earnings per share. analysts forecast that Apptio will post -0.49 EPS for the current fiscal year.

In other news, insider Sachin Gupta sold 80,000 shares of Apptio 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John C. Morrow sold 28,337 shares of Apptio stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $22.55, for a total transaction of $638,999.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 511,185 shares of company stock worth $11,355,221. Company insiders own 43.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Apptio by 73.4% during the second quarter. Bank of New York Mellon Corp now owns 47,342 shares of the technology company’s stock valued at $821,000 after buying an additional 20,040 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Apptio by 17.6% during the third quarter. Ameriprise Financial Inc. now owns 72,013 shares of the technology company’s stock valued at $1,330,000 after buying an additional 10,768 shares during the last quarter. State Street Corp raised its position in shares of Apptio by 145.6% during the second quarter. State Street Corp now owns 240,619 shares of the technology company’s stock valued at $4,176,000 after buying an additional 142,628 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Apptio by 32.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 39,600 shares of the technology company’s stock valued at $732,000 after buying an additional 9,600 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Apptio by 124.3% during the second quarter. California State Teachers Retirement System now owns 31,400 shares of the technology company’s stock valued at $545,000 after buying an additional 17,400 shares during the last quarter. Hedge funds and other institutional investors own 44.93% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/02/08/zacks-investment-research-upgrades-apptio-apti-to-buy.html.

About Apptio

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.

Get a free copy of the Zacks research report on Apptio (APTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Apptio (NASDAQ:APTI)

Receive News & Ratings for Apptio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apptio and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply