Impax Asset Management LLC decreased its position in shares of Apptio Inc (NASDAQ:APTI) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,937 shares of the technology company’s stock after selling 11,512 shares during the period. Impax Asset Management LLC owned approximately 0.75% of Apptio worth $12,161,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of APTI. BlackRock Inc. grew its position in shares of Apptio by 72.3% during the second quarter. BlackRock Inc. now owns 2,188,265 shares of the technology company’s stock valued at $79,215,000 after purchasing an additional 918,403 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Apptio by 136.6% during the second quarter. Macquarie Group Ltd. now owns 1,040,239 shares of the technology company’s stock valued at $37,657,000 after purchasing an additional 600,662 shares in the last quarter. Fred Alger Management Inc. grew its position in shares of Apptio by 85.2% during the second quarter. Fred Alger Management Inc. now owns 1,301,204 shares of the technology company’s stock valued at $47,104,000 after purchasing an additional 598,662 shares in the last quarter. Alkeon Capital Management LLC grew its position in shares of Apptio by 106.6% during the first quarter. Alkeon Capital Management LLC now owns 825,531 shares of the technology company’s stock valued at $23,395,000 after purchasing an additional 426,040 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Apptio during the second quarter valued at about $13,322,000. Hedge funds and other institutional investors own 72.49% of the company’s stock.
A number of research analysts have recently weighed in on the company. Barclays raised their price objective on Apptio from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Friday. BidaskClub upgraded Apptio from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, August 7th. Bank of America raised their price objective on Apptio from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada restated a “buy” rating and set a $41.00 price objective on shares of Apptio in a research report on Tuesday, July 31st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $35.40.
In related news, insider John C. Morrow sold 7,594 shares of Apptio stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $38.42, for a total value of $291,761.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sachin Gupta sold 30,600 shares of Apptio stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $34.69, for a total value of $1,061,514.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 305,219 shares of company stock valued at $11,163,724. 24.16% of the stock is currently owned by company insiders.
APTI opened at $38.75 on Monday. The stock has a market capitalization of $1.73 billion, a P/E ratio of -60.55 and a beta of 0.03. Apptio Inc has a 12 month low of $16.56 and a 12 month high of $39.58. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.72.
Apptio (NASDAQ:APTI) last released its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.14. The company had revenue of $59.05 million during the quarter, compared to analyst estimates of $55.60 million. Apptio had a negative return on equity of 19.28% and a negative net margin of 11.98%. The firm’s revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) earnings per share. analysts anticipate that Apptio Inc will post -0.4 earnings per share for the current year.
Apptio Company 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.
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