Appian Co. (NASDAQ:APPN) Receives Average Recommendation of “Hold” from Analysts

Appian Co. (NASDAQ:APPN) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $40.80.

Several equities research analysts recently weighed in on the company. Barclays boosted their target price on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. DA Davidson restated a “neutral” rating and issued a $33.00 target price on shares of Appian in a report on Monday, October 14th.

Appian Price Performance

Appian stock opened at $33.89 on Friday. The stock’s fifty day moving average is $37.00 and its two-hundred day moving average is $33.69. The stock has a market cap of $2.89 billion, a PE ratio of -27.78 and a beta of 1.61. Appian has a 1-year low of $26.28 and a 1-year high of $43.33.

Insider Activity

In related news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction dated 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 owns 7,966 shares of the company’s stock, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Appian by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock worth $2,739,000 after purchasing an additional 491 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Appian by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after buying an additional 686 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Appian in the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Appian by 2.4% during the second quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock worth $1,845,000 after acquiring an additional 1,386 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

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.