Appian (NASDAQ:APPN) Stock Price Up 4.6%

Appian Co. (NASDAQ:APPN)’s share price traded up 4.6% during trading on Wednesday . The stock traded as high as $34.22 and last traded at $34.08. Approximately 233,318 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 553,928 shares. The stock had previously closed at $32.57.

Analysts Set New Price Targets

APPN has been the topic of several research analyst reports. DA Davidson downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Barclays decreased their target price on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, August 5th. Finally, The Goldman Sachs Group cut their price target on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Appian currently has a consensus rating of “Hold” and an average target price of $39.20.

Appian Trading Up 5.2 %

The stock’s fifty day moving average price is $32.20 and its 200 day moving average price is $33.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The business had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted ($0.55) earnings per share. As a group, equities research analysts anticipate that Appian Co. will post -1.07 earnings per share for the current year.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 7,957 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average cost of $33.55 per share, for a total transaction of $266,957.35. Following the completion of the acquisition, the insider now directly owns 10,126,448 shares of the company’s stock, valued at approximately $339,742,330.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have bought 2,395,090 shares of company stock valued at $76,942,043. 44.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Appian

Several institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Appian by 70.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after acquiring an additional 196,435 shares during the period. GSA Capital Partners LLP bought a new position in Appian in the first quarter worth about $1,708,000. Hawk Ridge Capital Management LP raised its holdings in Appian by 14.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Appian by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after buying an additional 392,190 shares during the last quarter. Finally, 272 Capital LP bought a new stake in shares of Appian in the 2nd quarter valued at about $2,179,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Company Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.