nVerses Capital LLC Makes New Investment in Appian Co. (NASDAQ:APPN)

nVerses Capital LLC purchased a new stake in Appian Co. (NASDAQ:APPN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,400 shares of the company’s stock, valued at approximately $105,000.

A number of other hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its stake in Appian by 3.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock valued at $299,000 after buying an additional 280 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Appian by 36.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,280 shares of the company’s stock worth $348,000 after acquiring an additional 2,993 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Appian by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock valued at $4,443,000 after acquiring an additional 13,046 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Appian during the second quarter valued at $65,000. Finally, Price T Rowe Associates Inc. MD increased its position in Appian by 5.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,494 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

Shares of APPN stock opened at $31.61 on Wednesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -21.50 and a beta of 1.47. Appian Co. has a one year low of $26.28 and a one year high of $52.99. The company has a 50 day moving average price of $32.12 and a 200 day moving average price of $33.26.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. The company had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.55) EPS. Sell-side analysts anticipate that Appian Co. will post -1.07 EPS for the current year.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 60,722 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $31.34 per share, with a total value of $1,903,027.48. Following the transaction, the insider now owns 6,426,026 shares in the company, valued at $201,391,654.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have bought a total of 2,301,512 shares of company stock worth $73,987,795 in the last three months. 44.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.