Principal Financial Group Inc. Invests $220,000 in Appian Co. (NASDAQ:APPN)

Principal Financial Group Inc. bought a new stake in Appian Co. (NASDAQ:APPNFree Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,519 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Appian by 4.6% in the fourth quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock valued at $351,000 after purchasing an additional 411 shares during the period. Victory Capital Management Inc. raised its position in Appian by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after buying an additional 1,027 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Appian during the 4th quarter valued at approximately $47,000. Los Angeles Capital Management LLC boosted its holdings in shares of Appian by 14.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock valued at $930,000 after acquiring an additional 2,881 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV increased its stake in shares of Appian by 13.0% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 32,736 shares of the company’s stock worth $1,233,000 after acquiring an additional 3,764 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Trading Up 1.0 %

Shares of APPN stock opened at $31.09 on Monday. The stock has a 50 day simple moving average of $30.62 and a 200-day simple moving average of $33.92. Appian Co. has a 1-year low of $26.28 and a 1-year high of $52.99. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -21.15 and a beta of 1.48. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33.

Appian (NASDAQ:APPNGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The company had revenue of $149.80 million for the quarter, compared to analysts’ expectations of $149.78 million. Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) earnings per share. On average, equities research analysts expect that Appian Co. will post -1.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Albert G.W. Biddle III acquired 3,225 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the acquisition, the director now owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 44.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. William Blair restated an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. KeyCorp lowered their target price on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Barclays reduced their price target on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. Finally, Citigroup upped their price objective on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Appian has an average rating of “Moderate Buy” and a consensus target price of $46.43.

Get Our Latest Analysis on APPN

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.

Read More

Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.