Engineers Gate Manager LP Increases Holdings in Apptio (APTI)

Engineers Gate Manager LP boosted its holdings in shares of Apptio (NASDAQ:APTI) by 76.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,079 shares of the technology company’s stock after acquiring an additional 29,929 shares during the period. Engineers Gate Manager LP owned about 0.16% of Apptio worth $1,958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of Apptio by 27.9% during the fourth quarter. Millennium Management LLC now owns 713,691 shares of the technology company’s stock worth $16,786,000 after buying an additional 155,821 shares in the last quarter. Alkeon Capital Management LLC purchased a new stake in shares of Apptio during the fourth quarter worth about $9,396,000. Fred Alger Management Inc. purchased a new stake in shares of Apptio during the fourth quarter worth about $9,193,000. Two Sigma Investments LP grew its holdings in shares of Apptio by 541.9% during the fourth quarter. Two Sigma Investments LP now owns 373,564 shares of the technology company’s stock worth $8,786,000 after buying an additional 315,364 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Apptio by 185.0% during the fourth quarter. Renaissance Technologies LLC now owns 315,788 shares of the technology company’s stock worth $7,427,000 after buying an additional 204,988 shares in the last quarter. Institutional investors own 55.10% of the company’s stock.

Apptio opened at $31.33 on Friday, MarketBeat.com reports. Apptio has a 1 year low of $30.63 and a 1 year high of $31.30. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.18 and a quick ratio of 2.18.

Apptio (NASDAQ:APTI) last released its earnings results on Monday, April 30th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Apptio had a negative net margin of 13.68% and a negative return on equity of 25.40%. The company had revenue of $54.10 million during the quarter, compared to analysts’ expectations of $51.64 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Apptio’s revenue for the quarter was up 23.2% compared to the same quarter last year. research analysts anticipate that Apptio will post -0.53 EPS for the current year.

In other Apptio news, insider Sachin Gupta sold 24,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $30.72, for a total transaction of $761,856.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Christopher Pick sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $30.22, for a total transaction of $73,918.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 504,459 shares of company stock valued at $15,009,429. 24.16% of the stock is owned by insiders.

APTI has been the subject of a number of recent research reports. Jefferies Group reiterated a “buy” rating and set a $33.00 price target on shares of Apptio in a report on Tuesday, February 6th. Bank of America boosted their target price on shares of Apptio from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Oppenheimer restated a “buy” rating and issued a $31.00 target price on shares of Apptio in a report on Tuesday, January 30th. Royal Bank of Canada restated a “buy” rating and issued a $29.00 target price on shares of Apptio in a report on Friday, January 26th. Finally, Nomura started coverage on shares of Apptio in a report on Tuesday, January 23rd. They issued a “buy” rating and a $33.00 target price for the company. 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 company. The company has an average rating of “Buy” and a consensus target price of $31.30.

Apptio Profile

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.

Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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