Northern Trust Corp Has $12 Million Stock Position in Appian Co. (NASDAQ:APPN)

Northern Trust Corp raised its holdings in shares of Appian Co. (NASDAQ:APPN) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 363,921 shares of the company’s stock after purchasing an additional 12,337 shares during the period. Northern Trust Corp owned 0.43% of Appian worth $12,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in APPN. Arrowstreet Capital Limited Partnership bought a new stake in shares of Appian in the 4th quarter valued at about $4,918,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Appian by 184.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock valued at $6,637,000 after purchasing an additional 130,606 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Appian by 418.8% during the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock valued at $5,303,000 after purchasing an additional 129,800 shares during the last quarter. Norges Bank acquired a new stake in Appian during the 4th quarter valued at $4,046,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Appian during the fourth quarter worth $2,806,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Trading Down 1.8%

NASDAQ APPN opened at $32.54 on Friday. The firm has a market capitalization of $2.41 billion, a P/E ratio of -25.83 and a beta of 1.83. The business has a fifty day simple moving average of $29.56 and a 200 day simple moving average of $33.33. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The company had revenue of $166.43 million during the quarter, compared to the consensus estimate of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.24) EPS. As a group, sell-side analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $31.96, for a total value of $4,475,998.00. Following the transaction, the insider now directly owns 9,615,066 shares of the company’s stock, valued at $307,297,509.36. The trade was a 1.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the sale, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 380,560 shares of company stock valued at $11,124,633. Corporate insiders own 43.00% of the company’s stock.

Wall Street Analyst Weigh In

APPN has been the topic of a number of recent analyst reports. Citigroup raised their price target on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson boosted their price target on Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Barclays boosted their price target on shares of Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. Morgan Stanley boosted their price target on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Finally, Scotiabank lowered their target price on Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.29.

Appian Company 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.