Apptio (APTI) Receives $30.22 Consensus PT from Brokerages
Shares of Apptio (NASDAQ:APTI) have been assigned a consensus rating of “Buy” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $30.22.
APTI has been the topic of several research analyst reports. Zacks Investment Research cut Apptio from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Nomura initiated coverage on Apptio in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $33.00 price objective on the stock. BidaskClub cut Apptio from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. KeyCorp increased their price objective on Apptio from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. Finally, Oppenheimer increased their price objective on Apptio from $31.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, March 15th.
Shares of NASDAQ APTI traded up $0.24 during midday trading on Wednesday, hitting $29.26. The company’s stock had a trading volume of 10,875 shares, compared to its average volume of 565,030. Apptio has a 12-month low of $11.24 and a 12-month high of $30.83. The company has a market cap of $1,236.69, a price-to-earnings ratio of -45.34 and a beta of 0.04.
In other Apptio news, Director Matthew S. Mcilwain sold 32,500 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $24.92, for a total transaction of $809,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Lawrence Blasko sold 30,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.07, for a total value of $752,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 572,409 shares of company stock worth $15,561,829 in the last ninety days. Insiders own 43.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alkeon Capital Management LLC bought a new stake in Apptio during the 4th quarter valued at $9,396,000. Pier Capital LLC bought a new stake in Apptio during the 4th quarter valued at $5,942,000. Element Capital Management LLC bought a new stake in Apptio during the 4th quarter valued at $3,593,000. LPL Financial LLC bought a new stake in Apptio during the 4th quarter valued at $320,000. Finally, Crestline Management LP bought a new stake in Apptio during the 4th quarter valued at $309,000. 54.27% of the stock is currently owned by institutional investors and hedge funds.
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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