Appian Corporation $APPN Shares Bought by Cwm LLC

Cwm LLC grew its position in shares of Appian Corporation (NASDAQ:APPN) by 330.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,322 shares of the company’s stock after purchasing an additional 24,047 shares during the period. Cwm LLC’s holdings in Appian were worth $958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Appian by 89.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock valued at $36,000 after purchasing an additional 564 shares in the last quarter. Globeflex Capital L P purchased a new position in Appian in the 2nd quarter valued at about $90,000. Tower Research Capital LLC TRC grew its stake in shares of 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 acquiring an additional 3,513 shares in the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of Appian during the second quarter worth about $129,000. Finally, State of Wyoming acquired a new position in shares of Appian in the second quarter worth about $143,000. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Appian Stock Performance

NASDAQ APPN opened at $33.24 on Wednesday. Appian Corporation has a one year low of $24.00 and a one year high of $46.06. The company has a 50-day simple moving average of $38.03 and a 200-day simple moving average of $32.76. The firm has a market capitalization of $2.45 billion, a PE ratio of -332.37 and a beta of 0.82.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on APPN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Appian in a research note on Monday, December 29th. Zacks Research upgraded Appian from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Morgan Stanley lifted their price target on shares of Appian from $29.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Cowen reaffirmed a “hold” rating on shares of Appian in a report on Thursday, November 6th. Finally, Barclays raised their price objective on shares of Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Appian has a consensus rating of “Hold” and a consensus target price of $39.00.

Appian Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.