Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Appian Co. (NASDAQ:APPN)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Appian Co. (NASDAQ:APPN) by 107.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,670 shares of the company’s stock after acquiring an additional 4,490 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Appian were worth $327,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Appian by 3.4% during the third quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after buying an additional 147,785 shares during the period. Hawk Ridge Capital Management LP raised its holdings in shares of 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 purchasing an additional 151,734 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Appian by 1.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 466,062 shares of the company’s stock worth $17,552,000 after purchasing an additional 4,543 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Appian during the 3rd quarter worth $14,884,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Appian by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 319,750 shares of the company’s stock worth $14,584,000 after purchasing an additional 9,900 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APPN has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. DA Davidson lowered their price target on Appian from $55.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. Barclays dropped their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday. Citigroup boosted their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Finally, KeyCorp dropped their target price on shares of Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.43.

Appian Stock Up 3.1 %

Shares of NASDAQ:APPN opened at $31.98 on Friday. Appian Co. has a 1-year low of $28.22 and a 1-year high of $54.26. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $2.35 billion, a P/E ratio of -21.75 and a beta of 1.46. The firm has a fifty day moving average price of $36.71 and a 200 day moving average price of $36.45.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. The business had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. Sell-side analysts predict that Appian Co. will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 43.60% of the stock is owned by insiders.

Appian Profile

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.