Several other brokerages also recently weighed in on APPN. Zacks Investment Research downgraded shares of Appian from a buy rating to a hold rating in a research note on Wednesday, February 27th. Canaccord Genuity raised their price objective on shares of Appian from $27.00 to $33.00 and gave the company a hold rating in a research report on Friday, February 22nd. SunTrust Banks raised their price objective on shares of Appian to $32.00 and gave the company a hold rating in a research report on Monday, February 25th. Morgan Stanley upgraded shares of Appian from an underweight rating to an equal weight rating and raised their price objective for the company from $30.00 to $36.00 in a research report on Thursday, May 23rd. They noted that the move was a valuation call. Finally, William Blair upgraded shares of Appian from a market perform rating to an outperform rating and set a $35.10 price objective for the company in a research report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $33.59.
Shares of APPN opened at $39.75 on Friday. Appian has a fifty-two week low of $22.61 and a fifty-two week high of $39.92. The stock has a market cap of $2.57 billion, a PE ratio of -49.69 and a beta of 1.61.
In other Appian news, Director Albert G.W. Biddle III sold 43,994 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $36.03, for a total value of $1,585,103.82. Following the completion of the transaction, the director now directly owns 6,088 shares of the company’s stock, valued at $219,350.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael G. Devine sold 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.03, for a total transaction of $180,150.00. Following the completion of the transaction, the director now directly owns 11,960 shares of the company’s stock, valued at $430,918.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,000 shares of company stock valued at $2,961,190. 50.00% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Weaver Consulting Group acquired a new stake in shares of Appian in the 1st quarter worth approximately $25,000. Marshall Wace North America L.P. acquired a new stake in shares of Appian in the 1st quarter worth approximately $1,351,000. Marshall Wace LLP acquired a new stake in shares of Appian in the 1st quarter worth approximately $2,921,000. King Luther Capital Management Corp lifted its stake in shares of Appian by 22.2% in the 1st quarter. King Luther Capital Management Corp now owns 11,000 shares of the company’s stock worth $379,000 after acquiring an additional 2,000 shares during the period. Finally, AlphaCrest Capital Management LLC acquired a new stake in shares of Appian in the 1st quarter worth approximately $778,000. 28.68% of the stock is owned by institutional investors.
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.
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