Intech Investment Management LLC Acquires Shares of 11,503 Appian Co. (NASDAQ:APPN)

Intech Investment Management LLC acquired a new position in Appian Co. (NASDAQ:APPN) in the 3rd quarter, Holdings Channel reports. The firm acquired 11,503 shares of the company’s stock, valued at approximately $393,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empyrean Capital Partners LP purchased a new position in shares of Appian in the 2nd quarter valued at approximately $7,715,000. Edgestream Partners L.P. bought a new position in Appian in the second quarter worth $4,657,000. 272 Capital LP purchased a new position in Appian during the second quarter valued at $2,179,000. GSA Capital Partners LLP boosted its holdings in shares of Appian by 354.7% during the 3rd quarter. GSA Capital Partners LLP now owns 57,630 shares of the company’s stock valued at $1,967,000 after buying an additional 44,957 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Appian by 41.4% in the 3rd quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock worth $4,888,000 after buying an additional 41,922 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Price Performance

APPN opened at $38.61 on Wednesday. The firm has a market cap of $3.30 billion, a PE ratio of -31.65 and a beta of 1.57. The stock has a 50-day moving average price of $35.35 and a 200-day moving average price of $32.66. Appian Co. has a 1 year low of $26.28 and a 1 year high of $43.33.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APPN. DA Davidson reissued a “neutral” rating and set a $33.00 price target on shares of Appian in a research report on Monday, October 14th. Barclays raised their target price on shares of Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. 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. Based on data from MarketBeat, Appian has a consensus rating of “Hold” and an average target price of $40.20.

Insider Buying and Selling at Appian

In other news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the transaction, the director now directly owns 7,966 shares of the company’s stock, valued at $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp acquired 23,053 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $30.22 per share, for a total transaction of $696,661.66. Following the completion of the transaction, the insider now directly owns 10,036,046 shares of the company’s stock, valued at $303,289,310.12. The trade was a 0.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 121,107 shares of company stock worth $3,871,494. 44.00% of the stock is owned by corporate insiders.

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.