Commonwealth Equity Services LLC Sells 2,179 Shares of Appian Corp (NASDAQ:APPN)

Commonwealth Equity Services LLC cut its stake in shares of Appian Corp (NASDAQ:APPN) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,824 shares of the company’s stock after selling 2,179 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Appian were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in APPN. Bank of Montreal Can grew its holdings in Appian by 242.1% during the 2nd quarter. Bank of Montreal Can now owns 3,678 shares of the company’s stock worth $133,000 after acquiring an additional 2,603 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Appian by 9.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,130 shares of the company’s stock worth $866,000 after acquiring an additional 2,094 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Appian by 54.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company’s stock worth $528,000 after acquiring an additional 5,138 shares during the last quarter. Northern Trust Corp grew its holdings in Appian by 193.8% during the 2nd quarter. Northern Trust Corp now owns 185,645 shares of the company’s stock worth $6,695,000 after acquiring an additional 122,460 shares during the last quarter. Finally, Aubrey Capital Management Ltd bought a new stake in Appian during the 2nd quarter worth approximately $3,535,000. 35.45% of the stock is currently owned by institutional investors.

APPN opened at $41.34 on Thursday. Appian Corp has a fifty-two week low of $24.03 and a fifty-two week high of $62.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.06 and a quick ratio of 2.06. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -51.68 and a beta of 0.99. The company’s 50 day moving average price is $45.47 and its two-hundred day moving average price is $42.54.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. Appian had a negative net margin of 20.80% and a negative return on equity of 61.04%. The company had revenue of $69.39 million for the quarter, compared to analyst estimates of $65.26 million. During the same period in the prior year, the firm posted ($0.13) EPS. The company’s quarterly revenue was up 26.3% on a year-over-year basis. As a group, equities research analysts predict that Appian Corp will post -0.79 EPS for the current year.

In related news, CEO Matthew W. Calkins sold 375,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $55.70, for a total transaction of $20,887,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Charles Kramer sold 5,355 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $41.96, for a total transaction of $224,695.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 604,763 shares of company stock worth $32,322,473. Insiders own 50.00% of the company’s stock.

A number of equities research analysts have weighed in on the stock. SunTrust Banks boosted their target price on shares of Appian from $32.00 to $46.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Barclays set a $41.00 target price on shares of Appian and gave the stock a “hold” rating in a report on Friday, August 9th. BidaskClub lowered shares of Appian from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Zacks Investment Research lowered shares of Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, ValuEngine lowered shares of Appian from a “buy” rating to a “hold” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Appian has a consensus rating of “Hold” and an average target price of $38.16.

Appian 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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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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