Appian Co. (NASDAQ:APPN) Receives Consensus Recommendation of “Hold” from Brokerages

Appian Co. (NASDAQ:APPN) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $45.13.

A number of equities analysts have issued reports on the stock. Truist Financial lifted their price objective on shares of Appian from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, August 7th. Morgan Stanley lifted their price objective on shares of Appian from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Citigroup cut their price objective on shares of Appian from $56.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. KeyCorp lifted their price objective on shares of Appian from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. Finally, Barclays cut their price target on shares of Appian from $41.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday, October 12th.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 750,000 shares of Appian stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $41.43, for a total value of $31,072,500.00. Following the completion of the transaction, the insider now owns 9,371,954 shares in the company, valued at $388,280,054.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Christopher M. Jones sold 4,500 shares of Appian stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $50.11, for a total value of $225,495.00. Following the completion of the transaction, the executive now directly owns 7,983 shares in the company, valued at approximately $400,028.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Abdiel Capital Advisors, Lp sold 750,000 shares of Appian stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $41.43, for a total transaction of $31,072,500.00. Following the completion of the transaction, the insider now owns 9,371,954 shares of the company’s stock, valued at $388,280,054.22. The disclosure for this sale can be found here. Insiders have sold a total of 797,568 shares of company stock valued at $33,460,255 over the last three months. 43.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Appian by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,856,902 shares of the company’s stock valued at $157,477,000 after purchasing an additional 138,431 shares during the period. BlackRock Inc. boosted its holdings in Appian by 7.7% in the 2nd quarter. BlackRock Inc. now owns 2,933,839 shares of the company’s stock valued at $139,651,000 after purchasing an additional 208,857 shares during the period. Baillie Gifford & Co. boosted its holdings in Appian by 25.4% in the 2nd quarter. Baillie Gifford & Co. now owns 1,882,112 shares of the company’s stock valued at $89,589,000 after purchasing an additional 380,770 shares during the period. Hawk Ridge Capital Management LP boosted its holdings in Appian by 7.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,865,830 shares of the company’s stock valued at $82,806,000 after purchasing an additional 128,168 shares during the period. Finally, State Street Corp boosted its holdings in Appian by 2.5% in the 2nd quarter. State Street Corp now owns 873,935 shares of the company’s stock valued at $41,599,000 after purchasing an additional 21,046 shares during the period. 41.15% of the stock is currently owned by hedge funds and other institutional investors.

Appian Price Performance

APPN opened at $37.40 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -17.23 and a beta of 1.60. The firm’s fifty day moving average price is $44.05 and its two-hundred day moving average price is $44.80. Appian has a 1 year low of $29.80 and a 1 year high of $54.26.

About Appian

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.