OxFORD Asset Management LLP Boosts Holdings in Apptio Inc. (APTI)
OxFORD Asset Management LLP grew its stake in Apptio Inc. (NASDAQ:APTI) by 22.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 316,039 shares of the technology company’s stock after purchasing an additional 58,884 shares during the period. OxFORD Asset Management LLP owned approximately 0.78% of Apptio worth $5,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of APTI. Bank of New York Mellon Corp grew its position in shares of Apptio by 109.4% in the first 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Apptio by 2.9% in the first quarter. Geode Capital Management LLC now owns 81,459 shares of the technology company’s stock valued at $955,000 after purchasing an additional 2,277 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Apptio in the first quarter valued at approximately $954,000. Goldman Sachs Group Inc. purchased a new stake in shares of Apptio in the first quarter valued at approximately $1,191,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Apptio by 163.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,000 shares of the technology company’s stock valued at $521,000 after purchasing an additional 18,600 shares in the last quarter. Institutional investors and hedge funds own 45.56% of the company’s stock.
Apptio Inc. (NASDAQ APTI) opened at $22.03 on Tuesday. Apptio Inc. has a twelve month low of $10.77 and a twelve month high of $24.50.
Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The firm had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $44.86 million. During the same period in the prior year, the firm posted ($0.45) earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. equities research analysts forecast that Apptio Inc. will post -0.69 EPS for the current fiscal year.
In related news, insider Christopher Pick sold 171,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $21.83, for a total value of $3,732,930.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John C. Morrow sold 60,455 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $22.65, for a total value of $1,369,305.75. The disclosure for this sale can be found here. Insiders sold 604,792 shares of company stock worth $13,331,635 over the last quarter. 43.20% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on the company. Bank of America upped their price target on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Oppenheimer restated a “buy” rating and issued a $27.00 price target on shares of Apptio in a research report on Thursday, November 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 price target (up from $23.00) on shares of Apptio in a research report on Tuesday, October 31st. Barclays upped their price target on Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 31st. Finally, JMP Securities assumed coverage on Apptio in a research report on Monday, November 27th. They issued an “outperform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $24.78.
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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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