Appian Co. (NASDAQ:APPN) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Appian Co. (NASDAQ:APPN) by 88.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,639 shares of the company’s stock after purchasing an additional 33,232 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Appian were worth $2,412,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after buying an additional 392,190 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in Appian in the second quarter worth about $7,715,000. Edgestream Partners L.P. acquired a new stake in Appian in the 2nd quarter valued at about $4,657,000. Bank of New York Mellon Corp boosted its position in shares of Appian by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock valued at $4,443,000 after purchasing an additional 13,046 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of Appian by 25.1% in the 2nd quarter. King Luther Capital Management Corp now owns 101,239 shares of the company’s stock worth $3,124,000 after purchasing an additional 20,298 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Trading Up 0.0 %

Shares of Appian stock opened at $38.56 on Monday. Appian Co. has a 1 year low of $26.28 and a 1 year high of $43.33. The stock has a 50-day moving average price of $34.69 and a 200 day moving average price of $32.42. The company has a market cap of $3.29 billion, a P/E ratio of -31.61 and a beta of 1.57.

Insider Buying and Selling

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 20,014 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average cost of $31.21 per share, for a total transaction of $624,636.94. Following the completion of the acquisition, the insider now owns 9,988,095 shares in the company, valued at approximately $311,728,444.95. The trade was a 0.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders purchased 144,233 shares of company stock worth $4,593,950. 44.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on APPN shares. The Goldman Sachs Group reduced their target price on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. William Blair lowered 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 increased their price target on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.20.

Appian 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.