Swiss National Bank decreased its position in Appian Co. (NASDAQ:APPN – Free Report) by 10.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,300 shares of the company’s stock after selling 8,700 shares during the quarter. Swiss National Bank owned about 0.10% of Appian worth $3,342,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of APPN. Heritage Wealth Management LLC lifted its holdings in shares of Appian by 86.6% in the fourth quarter. Heritage Wealth Management LLC now owns 782 shares of the company’s stock valued at $25,000 after buying an additional 363 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Appian by 850.0% in the first quarter. Nisa Investment Advisors LLC now owns 760 shares of the company’s stock valued at $34,000 after buying an additional 680 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Appian by 44.1% in the second quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after buying an additional 404 shares during the period. Gyon Technologies Capital Management LP acquired a new stake in shares of Appian in the fourth quarter valued at $105,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Appian during the first quarter valued at $109,000. Institutional investors and hedge funds own 41.15% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Barclays upped their target price on Appian from $35.00 to $41.00 and gave the company an “underweight” rating in a report on Friday, August 4th. Citigroup upped their target price on Appian from $40.00 to $57.00 in a report on Wednesday, June 21st. KeyCorp upped their target price on Appian from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, July 21st. Morgan Stanley upped their target price on Appian from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Finally, DA Davidson started coverage on Appian in a research report on Monday, June 5th. They set a “neutral” rating and a $40.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Appian has an average rating of “Hold” and an average target price of $47.67.
Appian Stock Performance
APPN opened at $49.55 on Friday. The company has a market cap of $3.62 billion, a PE ratio of -22.83 and a beta of 1.64. The stock has a 50-day moving average of $48.45 and a 200-day moving average of $44.26. Appian Co. has a 52-week low of $29.80 and a 52-week high of $54.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.34 and a current ratio of 1.34.
Appian (NASDAQ:APPN – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.02. The company had revenue of $127.72 million during the quarter, compared to the consensus estimate of $123.94 million. Appian had a negative return on equity of 112.32% and a negative net margin of 31.11%. As a group, equities research analysts forecast that Appian Co. will post -1.73 earnings per share for the current fiscal year.
Appian Corporation provides low-code process automation platform in the United States and internationally. The company's platform offers workflow, artificial intelligence, robotic process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize end-to-end processes and complex business operations.
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