Apptio (NASDAQ:APTI) had its price target increased by equities researchers at Barclays from $22.00 to $28.00 in a research report issued on Tuesday. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays’ price target indicates a potential upside of 11.11% from the company’s current price.
Several other equities research analysts have also recently weighed in on the stock. Oppenheimer restated a “buy” rating and issued a $25.00 price target on shares of Apptio in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Apptio from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. JMP Securities initiated coverage on shares of Apptio in a research report on Monday, November 27th. They issued an “outperform” rating and a $28.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price target (up previously from $23.00) on shares of Apptio in a research report on Tuesday, October 31st. Finally, Bank of America boosted their price objective on shares of Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Apptio currently has a consensus rating of “Buy” and a consensus target price of $28.20.
Shares of Apptio (APTI) opened at $25.20 on Tuesday. Apptio has a 1 year low of $10.77 and a 1 year high of $26.99.
In other Apptio news, insider John C. Morrow sold 28,337 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $22.55, for a total transaction of $638,999.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sachin Gupta sold 80,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $21.59, for a total transaction of $1,727,200.00. The disclosure for this sale can be found here. Insiders have sold 511,185 shares of company stock worth $11,355,221 in the last quarter. Company insiders own 43.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of APTI. FMR LLC increased its position in Apptio by 113.5% during the second quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock valued at $35,432,000 after acquiring an additional 1,085,566 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Apptio during the second quarter valued at $12,320,000. GMT Capital Corp boosted its stake in shares of Apptio by 59.7% during the third quarter. GMT Capital Corp now owns 1,617,314 shares of the technology company’s stock valued at $29,872,000 after purchasing an additional 604,300 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Apptio during the third quarter valued at $7,407,000. Finally, Vanguard Group Inc. boosted its stake in shares of Apptio by 117.7% during the second quarter. Vanguard Group Inc. now owns 664,629 shares of the technology company’s stock valued at $11,532,000 after purchasing an additional 359,373 shares during the period. Institutional investors and hedge funds own 44.93% of the company’s stock.
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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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