Engineers Gate Manager LP purchased a new position in shares of Appian Corp (NASDAQ:APPN) in the third quarter, HoldingsChannel reports. The firm purchased 37,540 shares of the company’s stock, valued at approximately $1,243,000.
Other large investors have also modified their holdings of the company. Northern Trust Corp boosted its stake in Appian by 66.2% during the first quarter. Northern Trust Corp now owns 38,595 shares of the company’s stock valued at $972,000 after buying an additional 15,371 shares during the period. BlackRock Inc. raised its position in Appian by 22.3% during the first quarter. BlackRock Inc. now owns 161,385 shares of the company’s stock valued at $4,064,000 after purchasing an additional 29,428 shares in the last quarter. UBS Group AG raised its position in Appian by 240.8% during the first quarter. UBS Group AG now owns 6,717 shares of the company’s stock valued at $169,000 after purchasing an additional 4,746 shares in the last quarter. Bank of Montreal Can raised its position in Appian by 2,038.9% during the second quarter. Bank of Montreal Can now owns 7,700 shares of the company’s stock valued at $278,000 after purchasing an additional 7,340 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT purchased a new stake in Appian during the second quarter valued at about $283,000. Hedge funds and other institutional investors own 17.43% of the company’s stock.
A number of research firms have weighed in on APPN. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Barclays restated a “sell” rating and set a $28.00 price target (up previously from $27.00) on shares of Appian in a research report on Sunday, August 5th. Zacks Investment Research downgraded Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Morgan Stanley raised their price target on Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, August 3rd. Finally, Canaccord Genuity raised their price target on Appian from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.67.
Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 1st. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The firm had revenue of $54.95 million for the quarter, compared to the consensus estimate of $49.73 million. Appian had a negative return on equity of 85.70% and a negative net margin of 19.54%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, equities research analysts forecast that Appian Corp will post -0.77 EPS for the current fiscal year.
In other news, CEO Matthew W. Calkins sold 200,000 shares of Appian stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $34.78, for a total value of $6,956,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Edward L. Hughes sold 20,000 shares of Appian stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.65, for a total value of $613,000.00. Following the completion of the transaction, the vice president now owns 132,359 shares in the company, valued at approximately $4,056,803.35. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,080,167 shares of company stock worth $28,442,017 and sold 304,156 shares worth $10,076,821. 64.00% of the stock is currently owned by insiders.
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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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