Campbell & CO Investment Adviser LLC Buys Shares of 35,453 Appian Corporation $APPN

Campbell & CO Investment Adviser LLC purchased a new position in shares of Appian Corporation (NASDAQ:APPN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 35,453 shares of the company’s stock, valued at approximately $1,084,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in Appian by 89.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock worth $36,000 after purchasing an additional 564 shares during the period. Globeflex Capital L P purchased a new stake in shares of Appian during the 2nd quarter valued at approximately $90,000. Tower Research Capital LLC TRC boosted its holdings in Appian by 456.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company’s stock worth $128,000 after buying an additional 3,513 shares during the period. State of Tennessee Department of Treasury purchased a new position in Appian in the 2nd quarter valued at approximately $129,000. Finally, State of Wyoming bought a new stake in Appian during the 2nd quarter valued at $143,000. Institutional investors own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APPN shares. Zacks Research lowered Appian from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Wall Street Zen raised Appian from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 6th. DA Davidson started coverage on shares of Appian in a report on Friday, November 7th. They issued a “hold” rating and a $38.00 price target on the stock. Barclays cut their price objective on shares of Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a research report on Monday, January 12th. Finally, Cowen reaffirmed a “hold” rating on shares of Appian in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.40.

Appian Stock Performance

NASDAQ APPN opened at $28.62 on Monday. Appian Corporation has a 52-week low of $24.00 and a 52-week high of $46.06. The company has a fifty day moving average of $38.04 and a 200-day moving average of $32.93. The company has a market capitalization of $2.11 billion, a P/E ratio of -286.17 and a beta of 0.82.

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

About Appian

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.