Apptio (APTI) IPO Opens Up 47%

September 23, 2016 10:25 AM EDT
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Today's IPO for Apptio, Inc. (Nasdaq: APTI) opened for trading at $23.40 after the company announced the pricing of its initial public offering of 6,000,000 shares of Class A common stock at a price to the public of $16 per share, above the expected $13 - $15 per share range.

Goldman, Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint lead bookrunners for the offering, while Barclays Capital Inc., Jefferies LLC, RBC Capital Markets, LLC and Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., are acting as bookrunners.

Apptio is the CIO's business management system. We build advanced data and analytics applications that help all IT leaders understand and make informed decisions about their technology investments, capitalize on the cloud transformation and drive innovation within their organization. We call it Technology Business Management. Our applications help companies align technology spending to business outcomes and automate IT processes like cost transparency, benchmarking, chargeback and planning. Hundreds of customers, including more than 40 percent of the Fortune 100, choose Apptio as their business system of record for IT.

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