Apptio Inc. (NASDAQ:APTI) – Investment analysts at Oppenheimer dropped their Q1 2018 EPS estimates for shares of Apptio in a report released on Tuesday. Oppenheimer analyst B. Schwartz now forecasts that the technology company will post earnings per share of ($0.17) for the quarter, down from their previous estimate of ($0.13). Oppenheimer has a “Buy” rating and a $31.00 price objective on the stock. Oppenheimer also issued estimates for Apptio’s Q2 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.07) EPS, Q4 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.42) EPS, Q1 2019 earnings at ($0.11) EPS, Q2 2019 earnings at ($0.07) EPS, Q3 2019 earnings at ($0.04) EPS, Q4 2019 earnings at ($0.06) EPS and FY2019 earnings at ($0.28) EPS.
APTI has been the subject of several other reports. BidaskClub raised shares of Apptio from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Zacks Investment Research downgraded shares of Apptio from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. KeyCorp reissued a “buy” rating and set a $25.00 price target on shares of Apptio in a report on Wednesday, November 1st. JMP Securities started coverage on shares of Apptio in a report on Monday, November 27th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Nomura started coverage on shares of Apptio in a report on Tuesday, January 23rd. They set a “buy” rating and a $33.00 price target for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $28.50.
Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Monday, February 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $52.40 million during the quarter, compared to the consensus estimate of $49.93 million. During the same period last year, the firm posted ($0.11) EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis.
Institutional investors and hedge funds have recently bought and sold shares of the business. Thompson Davis & CO. Inc. increased its position in Apptio by 3,900.0% in the 4th quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock valued at $118,000 after acquiring an additional 4,875 shares in the last quarter. Nationwide Fund Advisors increased its position in Apptio by 244.9% in the 2nd quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock valued at $177,000 after acquiring an additional 7,242 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Apptio in the 2nd quarter valued at about $207,000. Trexquant Investment LP acquired a new stake in Apptio in the 3rd quarter valued at about $230,000. Finally, The Manufacturers Life Insurance Company increased its position in Apptio by 321.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,254 shares of the technology company’s stock valued at $265,000 after acquiring an additional 11,633 shares in the last quarter. Hedge funds and other institutional investors own 44.93% of the company’s stock.
In other Apptio news, insider Sachin Gupta sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $22.16, for a total value of $1,772,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurt Shintaffer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. The disclosure for this sale can be found here. Insiders sold a total of 431,185 shares of company stock valued at $9,628,021 in the last 90 days. Corporate insiders own 43.20% of the company’s stock.
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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