Caxton Associates LLP Acquires New Stake in Appian Corporation $APPN

Caxton Associates LLP bought a new stake in Appian Corporation (NASDAQ:APPN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,952 shares of the company’s stock, valued at approximately $1,671,000. Caxton Associates LLP owned 0.08% of Appian as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its position in shares of Appian by 1.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 294,711 shares of the company’s stock valued at $8,791,000 after purchasing an additional 4,301 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Appian by 456.2% during the second quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company’s stock valued at $128,000 after buying an additional 3,513 shares during the period. State of Tennessee Department of Treasury purchased a new stake in Appian during the second quarter valued at approximately $129,000. RPD Fund Management LLC purchased a new stake in Appian during the second quarter valued at approximately $333,000. Finally, Man Group plc raised its position in Appian by 421.3% in the second quarter. Man Group plc now owns 56,555 shares of the company’s stock worth $1,689,000 after acquiring an additional 45,706 shares during the period. 52.70% of the stock is currently owned by institutional investors.

Appian Stock Performance

Shares of APPN stock opened at $37.83 on Monday. The stock has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $32.16. The firm has a market capitalization of $2.79 billion, a PE ratio of -378.26 and a beta of 0.84. Appian Corporation has a 52-week low of $24.00 and a 52-week high of $46.06.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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. During the same period last year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, sell-side analysts forecast that Appian Corporation will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APPN. Cowen reissued a “hold” rating on shares of Appian in a research report on Thursday, November 6th. Morgan Stanley lifted their target price on Appian from $29.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Barclays upped their price target on Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, November 7th. Wall Street Zen raised Appian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 6th. Finally, Zacks Research raised Appian from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.00.

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.