7,866 Shares in Appian Corporation $APPN Acquired by Petrus Trust Company LTA

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 shares of Appian Corporation (NASDAQ:APPN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,866 shares of the company's stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in Appian in the 4th quarter valued at about $35,000. Concord Wealth Partners increased its holdings in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after purchasing an additional 461 shares during the last quarter. Headlands Technologies LLC boosted its position in Appian by 2,052.0% during the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock valued at $122,000 after purchasing an additional 4,022 shares during the period. GAMMA Investing LLC boosted its position in Appian by 2,716.2% during the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock worth $1,800,000 after acquiring an additional 6,030 shares during the period. Finally, US Bancorp DE raised its position 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 purchasing an additional 4,443 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on APPN shares. Zacks Research downgraded Appian from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. DA Davidson started coverage on Appian in a research report on Friday, August 8th. They set a "neutral" rating and a $30.00 price target on the stock. One investment 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $33.40.

Appian Stock Down 2.3%

Shares of NASDAQ:APPN traded down $0.72 during midday trading on Friday, reaching $30.78. The company had a trading volume of 520,019 shares, compared to its average volume of 833,139. The business's 50 day moving average price is $29.62 and its 200 day moving average price is $29.97. The stock has a market cap of $2.28 billion, a PE ratio of -133.82 and a beta of 1.71. Appian Corporation has a 1-year low of $24.00 and a 1-year high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share 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 firm's revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) earnings per share. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. On average, research analysts expect that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

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.