Michael G. Devine Purchases 400 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) Director Michael G. Devine purchased 400 shares of the firm’s stock in a transaction on Monday, November 22nd. The shares were acquired at an average cost of $76.08 per share, with a total value of $30,432.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ APPN opened at $75.95 on Thursday. The business’s 50 day moving average is $93.38 and its two-hundred day moving average is $104.07. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of -77.50 and a beta of 1.73. Appian Co. has a 12-month low of $69.79 and a 12-month high of $260.00.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, November 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Appian had a negative net margin of 20.00% and a negative return on equity of 21.63%. The company had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $91.06 million. During the same period in the previous year, the company posted ($0.05) EPS. Appian’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, research analysts predict that Appian Co. will post -1.03 earnings per share for the current year.

A number of analysts have recently commented on the company. Truist Securities upgraded Appian from a “hold” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $116.00 in a research report on Monday, November 8th. Truist upgraded Appian from a “hold” rating to a “buy” rating and boosted their price target for the company from $105.00 to $116.00 in a research report on Monday, November 8th. Needham & Company LLC dropped their price target on Appian from $186.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, November 5th. Zacks Investment Research cut Appian from a “hold” rating to a “sell” rating in a research report on Friday, November 12th. Finally, Barclays boosted their target price on Appian from $77.00 to $90.00 and gave the stock an “underweight” rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.43.

A number of hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake in Appian by 7.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,450 shares of the company’s stock valued at $200,000 after buying an additional 100 shares in the last quarter. Huntington National Bank raised its holdings in Appian by 52.9% in the 2nd quarter. Huntington National Bank now owns 321 shares of the company’s stock valued at $44,000 after acquiring an additional 111 shares during the last quarter. Rockbridge Investment Management LCC raised its holdings in Appian by 52.2% in the 2nd quarter. Rockbridge Investment Management LCC now owns 353 shares of the company’s stock valued at $49,000 after acquiring an additional 121 shares during the last quarter. LexAurum Advisors LLC raised its holdings in Appian by 9.1% in the 2nd quarter. LexAurum Advisors LLC now owns 1,638 shares of the company’s stock valued at $226,000 after acquiring an additional 137 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Appian by 23.7% in the 3rd quarter. Signaturefd LLC now owns 715 shares of the company’s stock valued at $66,000 after acquiring an additional 137 shares during the last quarter. 38.33% of the stock is currently owned by hedge funds and other institutional investors.

About Appian

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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