390,840 Shares in Apptio Inc (APTI) Acquired by Fred Alger Management Inc.

Fred Alger Management Inc. bought a new position in shares of Apptio Inc (NASDAQ:APTI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 390,840 shares of the technology company’s stock, valued at approximately $9,193,000.

Several other large investors have also added to or reduced their stakes in the company. Worth Venture Partners LLC lifted its position in shares of Apptio by 8.9% during the third quarter. Worth Venture Partners LLC now owns 40,849 shares of the technology company’s stock worth $754,000 after purchasing an additional 3,350 shares during the last quarter. American International Group Inc. lifted its position in shares of Apptio by 32.0% during the fourth 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 last quarter. California State Teachers Retirement System lifted its position in shares of Apptio by 12.3% during the third quarter. California State Teachers Retirement System now owns 35,252 shares of the technology company’s stock worth $651,000 after purchasing an additional 3,852 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Apptio by 6.7% during the fourth 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 last quarter. Finally, Thompson Davis & CO. Inc. lifted its position in shares of Apptio by 3,900.0% during the fourth quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock worth $118,000 after purchasing an additional 4,875 shares during the last quarter. Institutional investors and hedge funds own 54.27% of the company’s stock.

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In other Apptio news, insider Sachin Gupta sold 71,800 shares of Apptio stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $22.65, for a total value of $1,626,270.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew S. Mcilwain sold 32,500 shares of Apptio stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $24.92, for a total value of $809,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 558,709 shares of company stock worth $14,665,279. Insiders own 43.20% of the company’s stock.

Apptio Inc (APTI) opened at $29.49 on Monday. Apptio Inc has a 52 week low of $10.77 and a 52 week high of $30.00.

Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Monday, February 5th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $49.93 million. Apptio had a negative return on equity of 33.48% and a negative net margin of 13.59%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. equities analysts expect that Apptio Inc will post -0.44 EPS for the current year.

Several analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “buy” rating and set a $29.00 target price on shares of Apptio in a research report on Friday, January 26th. Oppenheimer reiterated a “buy” rating and set a $31.00 target price on shares of Apptio in a research report on Tuesday, January 30th. Bank of America lifted their target price on Apptio from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BidaskClub upgraded Apptio from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research downgraded Apptio from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $28.50.

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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.

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Institutional Ownership by Quarter for Apptio (NASDAQ:APTI)

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