Arizona State Retirement System Raises Stock Holdings in Appian Co. (NASDAQ:APPN)

Arizona State Retirement System boosted its holdings in Appian Co. (NASDAQ:APPN) by 4.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,308 shares of the company’s stock after purchasing an additional 411 shares during the period. Arizona State Retirement System’s holdings in Appian were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of APPN. Lord Abbett & CO. LLC purchased a new position in shares of Appian during the third quarter worth about $14,884,000. Norges Bank acquired a new position in shares of Appian in the fourth quarter valued at approximately $9,108,000. Renaissance Technologies LLC purchased a new stake in shares of Appian during the first quarter worth approximately $13,983,000. BlackRock Inc. lifted its holdings in shares of Appian by 7.7% during the second quarter. BlackRock Inc. now owns 2,933,839 shares of the company’s stock worth $139,651,000 after purchasing an additional 208,857 shares during the period. Finally, Hawk Ridge Capital Management LP grew its position in Appian by 10.3% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,623,647 shares of the company’s stock valued at $74,055,000 after buying an additional 151,734 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Stock Down 0.9 %

APPN opened at $34.55 on Friday. Appian Co. has a one year low of $30.87 and a one year high of $54.26. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -22.58 and a beta of 1.46. The business’s fifty day moving average is $36.45 and its two-hundred day moving average is $36.92. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The firm had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. Analysts anticipate that Appian Co. will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays raised their target price on shares of Appian from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, April 15th. DA Davidson lowered their price objective on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. KeyCorp raised their price target on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 16th. William Blair reiterated an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Finally, Citigroup raised their target price on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.86.

Insider Activity at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 43.60% of the stock is owned by corporate insiders.

About Appian

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.