Several other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Appian from a hold rating to a buy rating and set a $41.00 price target for the company in a research report on Tuesday, February 26th. SunTrust Banks raised their target price on Appian to $32.00 and gave the stock a hold rating in a research note on Monday, February 25th. Canaccord Genuity raised their price target on Appian from $27.00 to $33.00 and gave the stock a hold rating in a research report on Friday, February 22nd. Finally, Goldman Sachs Group started coverage on Appian in a research report on Friday, February 1st. They set a sell rating and a $26.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $31.50.
Shares of Appian stock traded up $0.22 on Friday, hitting $33.74. 291,758 shares of the company traded hands, compared to its average volume of 477,564. The company has a market capitalization of $2.15 billion, a PE ratio of -42.18 and a beta of 1.84. Appian has a 52 week low of $22.61 and a 52 week high of $43.61.
In other Appian news, General Counsel Christopher Winters sold 2,757 shares of Appian stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $35.00, for a total value of $96,495.00. Following the sale, the general counsel now owns 9,657 shares of the company’s stock, valued at approximately $337,995. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Steven Lynch sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $36.51, for a total value of $547,650.00. The disclosure for this sale can be found here. Insiders sold a total of 94,975 shares of company stock worth $3,432,523 in the last 90 days. 64.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of APPN. Vanguard Group Inc increased its stake in shares of Appian by 78.1% during the third quarter. Vanguard Group Inc now owns 1,930,924 shares of the company’s stock valued at $63,914,000 after acquiring an additional 847,007 shares during the period. Vanguard Group Inc. boosted its holdings in Appian by 78.1% during the third quarter. Vanguard Group Inc. now owns 1,930,924 shares of the company’s stock worth $63,914,000 after buying an additional 847,007 shares in the last quarter. BlackRock Inc. boosted its holdings in Appian by 18.3% during the fourth quarter. BlackRock Inc. now owns 483,748 shares of the company’s stock worth $12,921,000 after buying an additional 74,804 shares in the last quarter. Engle Capital Management L.P. boosted its holdings in Appian by 50.0% during the fourth quarter. Engle Capital Management L.P. now owns 300,000 shares of the company’s stock worth $8,013,000 after buying an additional 100,000 shares in the last quarter. Finally, Oakcliff Capital Partners LP boosted its holdings in Appian by 21.4% during the fourth quarter. Oakcliff Capital Partners LP now owns 283,264 shares of the company’s stock worth $7,566,000 after buying an additional 50,000 shares in the last quarter. Institutional investors own 27.36% of the company’s stock.
Appian Company Profile
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.