Northern Trust Corp Lowers Stake in Appian Corporation $APPN

Key Points

• Northern Trust Corp reduced its stake in Appian Corporation by 3.8%, owning 350,025 shares worth $10,084,000 after selling nearly 14,000 shares in the first quarter.
• Appian's most recent earnings report showed a loss of ($0.14) per share, missing estimates, while revenue increased by 16.5% to $170.64 million.
• Recent analyst upgrades include a "strong-buy" rating from Zacks Research, while the average price target for Appian stocks stands at $33.40.

Northern Trust Corp cut its stake in Appian Corporation (NASDAQ:APPN - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 350,025 shares of the company's stock after selling 13,896 shares during the quarter. Northern Trust Corp owned 0.47% of Appian worth $10,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in APPN. Point72 Hong Kong Ltd bought a new stake in shares of Appian in the fourth quarter worth approximately $35,000. Concord Wealth Partners grew its stake in shares of Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after acquiring an additional 461 shares during the period. Headlands Technologies LLC grew its stake in shares of Appian by 2,052.0% in the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock worth $122,000 after acquiring an additional 4,022 shares during the period. US Bancorp DE grew its stake in shares of Appian by 215.4% in the first quarter. US Bancorp DE now owns 6,506 shares of the company's stock worth $187,000 after acquiring an additional 4,443 shares during the period. Finally, CWM LLC grew its stake in shares of Appian by 685.9% in the first quarter. CWM LLC now owns 7,788 shares of the company's stock worth $224,000 after acquiring an additional 6,797 shares during the period. 52.70% of the stock is currently owned by institutional investors.

Appian Stock Up 1.5%

NASDAQ:APPN traded up $0.47 during mid-day trading on Thursday, hitting $31.50. 728,690 shares of the company traded hands, compared to its average volume of 846,930. The stock's fifty day moving average price is $29.61 and its 200-day moving average price is $29.99. Appian Corporation has a one year low of $24.00 and a one year high of $43.33. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -136.95 and a beta of 1.71.

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

Analyst Ratings Changes

A number of analysts have recently commented on APPN shares. Zacks Research lowered shares of Appian from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. DA Davidson began coverage on shares of Appian in a report on Friday, August 8th. They issued a "neutral" rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Appian has a consensus rating of "Hold" and a consensus target price of $33.40.

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.