Worth Venture Partners LLC increased its position in Apptio Inc. (NASDAQ:APTI) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,849 shares of the technology company’s stock after acquiring an additional 3,350 shares during the quarter. Apptio comprises 0.7% of Worth Venture Partners LLC’s investment portfolio, making the stock its 29th largest holding. Worth Venture Partners LLC owned approximately 0.10% of Apptio worth $754,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in APTI. SQN Investors LP purchased a new stake in Apptio in the 2nd quarter worth about $23,378,000. FMR LLC increased its holdings in Apptio by 113.5% in the 2nd quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock worth $35,432,000 after acquiring an additional 1,085,566 shares during the last quarter. GMT Capital Corp bought a new position in Apptio in the 2nd quarter worth about $17,495,000. Janus Henderson Group PLC bought a new position in Apptio in the 2nd quarter worth about $12,320,000. Finally, Rubric Capital Management LP bought a new position in Apptio in the 2nd quarter worth about $10,363,000. 44.98% of the stock is owned by institutional investors.
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In other news, insider Christopher Pick sold 171,000 shares of Apptio stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $21.83, for a total transaction of $3,732,930.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sachin Gupta sold 80,000 shares of Apptio stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $21.59, for a total value of $1,727,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 296,000 shares of company stock valued at $6,442,930. Corporate insiders own 43.20% of the company’s stock.
Several research analysts have commented on APTI shares. Oppenheimer Holdings, Inc. started coverage on Apptio in a research note on Thursday, July 27th. They issued an “outperform” rating and a $25.00 target price for the company. Royal Bank Of Canada raised their target price on Apptio from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. KeyCorp restated a “buy” rating and issued a $22.00 target price on shares of Apptio in a research note on Friday, October 6th. Zacks Investment Research downgraded Apptio from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Bank of America Corporation raised their target price on Apptio from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Apptio currently has an average rating of “Buy” and an average price target of $24.38.
Shares of Apptio Inc. (NASDAQ APTI) traded up $0.23 on Tuesday, hitting $22.37. The stock had a trading volume of 273,600 shares, compared to its average volume of 330,781. Apptio Inc. has a 12-month low of $10.77 and a 12-month high of $24.50.
Apptio (NASDAQ:APTI) last issued its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.08. The firm had revenue of $47.00 million during the quarter, compared to the consensus estimate of $44.86 million. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) EPS. sell-side analysts forecast that Apptio Inc. will post -0.69 earnings per share for the current year.
Apptio Company Profile
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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