BidaskClub upgraded shares of Apptio (NASDAQ:APTI) from a buy rating to a strong-buy rating in a report issued on Wednesday.

Other equities analysts have also issued reports about the stock. Oppenheimer reissued a buy rating and set a $31.00 price target on shares of Apptio in a research report on Tuesday, January 30th. Bank of America raised their price target on shares of Apptio from $20.00 to $25.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Royal Bank of Canada reissued an outperform rating and set a $24.00 price target (up from $23.00) on shares of Apptio in a research report on Tuesday, October 31st. KeyCorp reissued a buy rating and set a $27.00 price target on shares of Apptio in a research report on Wednesday, January 10th. Finally, Barclays raised their price target on shares of Apptio from $19.00 to $22.00 and gave the stock an equal weight rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $28.50.

Apptio (NASDAQ:APTI) opened at $24.82 on Wednesday. Apptio has a 1 year low of $10.77 and a 1 year high of $26.99. The stock has a market cap of $1,030.00 and a P/E ratio of -38.18.

Apptio (NASDAQ:APTI) last posted its quarterly earnings results 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. Apptio had a negative net margin of 13.59% and a negative return on equity of 35.28%. The company had revenue of $52.40 million during the quarter, compared to analyst estimates of $49.93 million. During the same period last year, the firm posted ($0.11) EPS. Apptio’s revenue for the quarter was up 18.3% compared to the same quarter last year. analysts anticipate that Apptio will post -0.44 EPS for the current year.

In other news, CFO Kurt Shintaffer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sachin Gupta sold 71,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $22.65, for a total transaction of $1,626,270.00. The disclosure for this sale can be found here. Insiders have sold a total of 431,185 shares of company stock worth $9,628,021 in the last ninety days. Corporate insiders own 43.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Clarius Group LLC acquired a new stake in shares of Apptio during the 4th quarter worth approximately $1,698,000. Citadel Advisors LLC grew its stake in shares of Apptio by 78.7% during the 4th quarter. Citadel Advisors LLC now owns 73,664 shares of the technology company’s stock worth $1,733,000 after purchasing an additional 32,447 shares during the period. American International Group Inc. grew its stake in shares of Apptio by 32.0% during the 4th quarter. American International Group Inc. now owns 15,713 shares of the technology company’s stock worth $370,000 after purchasing an additional 3,811 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Apptio by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 67,161 shares of the technology company’s stock worth $1,580,000 after purchasing an additional 4,192 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Apptio by 198.7% during the 4th quarter. Wells Fargo & Company MN now owns 65,735 shares of the technology company’s stock worth $1,546,000 after purchasing an additional 43,726 shares during the period. 44.93% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

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