Acadian Asset Management LLC Takes Position in Appian Corporation $APPN

Key Points

• Acadian Asset Management LLC acquired a new position in Appian Corporation, purchasing 79,933 shares valued at approximately $2.3 million.
• Institutional investors and hedge funds now own 52.70% of Appian's stock, with notable acquisitions by Jones Financial Companies and Hawk Ridge Capital Management.
• Analysts have set a consensus price target of $33.40 for Appian, with a rating of "Hold" from multiple brokerages.

Acadian Asset Management LLC acquired a new stake in Appian Corporation (NASDAQ:APPN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 79,933 shares of the company's stock, valued at approximately $2,300,000. Acadian Asset Management LLC owned about 0.11% of Appian at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Concord Wealth Partners raised its position in shares of Appian by 21.7% during the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after buying an additional 461 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Appian by 2,052.0% during the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock worth $122,000 after buying an additional 4,022 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Appian by 2,716.2% during the first quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock worth $1,800,000 after buying an additional 6,030 shares in the last quarter. US Bancorp DE increased its holdings in shares of Appian by 215.4% during the first quarter. US Bancorp DE now owns 6,506 shares of the company's stock worth $187,000 after buying an additional 4,443 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Appian by 685.9% during the first quarter. CWM LLC now owns 7,788 shares of the company's stock worth $224,000 after buying an additional 6,797 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company's stock.

Appian Trading Down 1.5%

Shares of APPN stock traded down $0.49 on Friday, hitting $32.67. The stock had a trading volume of 1,572,186 shares, compared to its average volume of 886,187. Appian Corporation has a twelve month low of $24.00 and a twelve month high of $43.33. The firm has a market cap of $2.42 billion, a P/E ratio of -142.04 and a beta of 1.71. The company has a fifty day moving average price of $29.74 and a two-hundred day moving average price of $29.96.

Appian (NASDAQ:APPN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $170.64 million during the quarter, compared to analysts' expectations of $160.01 million. The company's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.26) EPS. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. On average, analysts expect that Appian Corporation will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on APPN shares. Zacks Research downgraded Appian from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. DA Davidson started coverage on Appian in a report on Friday, August 8th. They set a "neutral" rating and a $30.00 price objective on the stock. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $33.40.

About Appian

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.