Petrus Trust Company LTA Acquires New Shares in Appian Corporation $APPN

Key Points

• Petrus Trust Company LTA has made a new investment in Appian Corporation, acquiring 7,866 shares valued at approximately $227,000 in the first quarter of 2023.
• Appian's stock price rose 2.1%, opening at $32.72, accompanied by a market cap of $2.42 billion and a price-to-earnings ratio of -142.25.
• Analysts have set a consensus target price of $33.40 for Appian, with ratings ranging from "Strong Buy" to "Sell" based on recent evaluations.

Petrus Trust Company LTA bought a new position in Appian Corporation (NASDAQ:APPN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,866 shares of the company's stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Appian by 18.9% during the 1st quarter. Millennium Management LLC now owns 302,720 shares of the company's stock valued at $8,721,000 after buying an additional 48,014 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Appian in the 1st quarter worth approximately $7,166,000. Hawk Ridge Capital Management LP bought a new stake in Appian in the 1st quarter worth approximately $7,557,000. AQR Capital Management LLC increased its position in shares of Appian by 368.8% during the 1st quarter. AQR Capital Management LLC now owns 199,869 shares of the company's stock valued at $5,758,000 after purchasing an additional 157,233 shares during the last quarter. Finally, PDT Partners LLC increased its position in shares of Appian by 23.3% during the 1st quarter. PDT Partners LLC now owns 54,111 shares of the company's stock valued at $1,559,000 after purchasing an additional 10,230 shares during the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Appian Price Performance

Shares of APPN stock traded down $0.21 on Monday, hitting $30.57. The stock had a trading volume of 135,345 shares, compared to its average volume of 689,477. The firm has a market capitalization of $2.26 billion, a P/E ratio of -132.98 and a beta of 1.71. Appian Corporation has a 1 year low of $24.00 and a 1 year high of $43.33. The company's 50 day moving average price is $29.62 and its 200-day moving average price is $29.93.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share 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 the consensus estimate of $160.01 million. During the same quarter last year, the business posted ($0.26) EPS. Appian'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. On average, equities analysts forecast that Appian Corporation will post -0.28 EPS for the current year.

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.