Charles Schwab Investment Management Inc. Acquires 5,538 Shares of Appian Co. (NASDAQ:APPN)

Charles Schwab Investment Management Inc. raised its holdings in shares of Appian Co. (NASDAQ:APPNFree Report) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 325,288 shares of the company’s stock after acquiring an additional 5,538 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.44% of Appian worth $12,250,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Appian in the fourth quarter valued at $47,000. Victory Capital Management Inc. grew its stake in shares of Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after buying an additional 1,027 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Appian in the third quarter valued at $213,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Appian by 16.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock valued at $225,000 after buying an additional 695 shares in the last quarter. Finally, Rathbones Group PLC bought a new position in shares of Appian in the third quarter valued at $283,000. 52.70% of the stock is owned by institutional investors.

Appian Stock Down 0.6 %

APPN stock opened at $29.67 on Thursday. The company has a market cap of $2.14 billion, a PE ratio of -20.18 and a beta of 1.46. The business has a 50-day simple moving average of $35.46 and a 200 day simple moving average of $35.50. Appian Co. has a 52 week low of $28.22 and a 52 week high of $54.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPNGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. The company had revenue of $149.80 million during the quarter, compared to analyst estimates of $149.78 million. During the same period last year, the firm earned ($0.42) EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that Appian Co. will post -1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on APPN. Citigroup lifted 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. DA Davidson reduced their price objective on shares of Appian from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, March 4th. KeyCorp reduced their price objective on shares of Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Finally, Barclays dropped their target price on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Appian has a consensus rating of “Moderate Buy” and an average price target of $46.43.

Get Our Latest Research Report on Appian

Appian Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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