Arrowstreet Capital Limited Partnership Has $20.63 Million Stock Holdings in Appian Corporation $APPN

Arrowstreet Capital Limited Partnership raised its position in Appian Corporation (NASDAQ:APPN) by 211.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 690,788 shares of the company’s stock after acquiring an additional 469,259 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.93% of Appian worth $20,627,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in APPN. Jones Financial Companies Lllp raised its holdings in shares of Appian by 347,121.5% in the first quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company’s stock valued at $45,516,000 after purchasing an additional 1,579,403 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Appian by 2.2% in the first quarter. Goldman Sachs Group Inc. now owns 385,731 shares of the company’s stock valued at $11,113,000 after purchasing an additional 8,319 shares in the last quarter. Acadian Asset Management LLC increased its stake in Appian by 378.0% in the 2nd quarter. Acadian Asset Management LLC now owns 382,103 shares of the company’s stock valued at $11,397,000 after buying an additional 302,170 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Appian by 47.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 374,764 shares of the company’s stock worth $11,190,000 after buying an additional 119,852 shares in the last quarter. Finally, Harber Asset Management LLC boosted its stake in shares of Appian by 46.2% during the 1st quarter. Harber Asset Management LLC now owns 340,297 shares of the company’s stock worth $9,804,000 after buying an additional 107,602 shares during the last quarter. 52.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APPN has been the subject of several analyst reports. Zacks Research downgraded Appian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Morgan Stanley raised their price target on Appian from $29.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Wall Street Zen raised Appian from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barclays increased their price objective on Appian from $33.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, November 7th. Finally, DA Davidson initiated coverage on shares of Appian in a research note on Friday, November 7th. They issued a “hold” rating and a $38.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $39.00.

Appian Stock Up 4.0%

Shares of NASDAQ APPN opened at $40.96 on Monday. The business’s 50 day moving average price is $34.86 and its two-hundred day moving average price is $31.82. The company has a market cap of $3.02 billion, a PE ratio of -409.56 and a beta of 0.84. Appian Corporation has a twelve month low of $24.00 and a twelve month high of $46.06.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, November 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. The business’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, research analysts anticipate that Appian Corporation will post -0.28 EPS for the current fiscal year.

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.