Appian (NASDAQ:APPN) Stock Price Up 3.9%

Shares of Appian Co. (NASDAQ:APPN - Get Free Report) rose 3.9% on Tuesday . The stock traded as high as $41.38 and last traded at $41.38. Approximately 38,374 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 481,205 shares. The stock had previously closed at $39.82.

Wall Street Analyst Weigh In

A number of analysts have commented on APPN shares. William Blair reaffirmed an "outperform" rating on shares of Appian in a report on Wednesday, March 20th. DA Davidson decreased their price target on shares of Appian from $55.00 to $52.00 and set a "buy" rating for the company in a report on Monday, March 4th. KeyCorp boosted their price target on shares of Appian from $45.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Citigroup boosted their price target on shares of Appian from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, March 22nd. Finally, Barclays decreased their price target on shares of Appian from $40.00 to $35.00 and set an "underweight" rating for the company in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Appian has an average rating of "Moderate Buy" and an average target price of $48.71.

Appian Stock Up 3.3 %

The firm's 50-day simple moving average is $35.57 and its 200 day simple moving average is $37.26. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $3.02 billion, a P/E ratio of -27.14 and a beta of 1.46.

Appian (NASDAQ:APPN - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.33. The company had revenue of $145.32 million for the quarter, compared to analysts' expectations of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. As a group, research analysts expect that Appian Co. will post -0.98 EPS for the current year.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the transaction, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 43.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in APPN. Raymond James & Associates grew its position in shares of Appian by 15.2% during the 1st quarter. Raymond James & Associates now owns 3,816 shares of the company's stock worth $232,000 after purchasing an additional 503 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Appian by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 166,769 shares of the company's stock worth $10,142,000 after acquiring an additional 501 shares in the last quarter. US Bancorp DE boosted its position in shares of Appian by 8.1% during the 1st quarter. US Bancorp DE now owns 5,838 shares of the company's stock worth $355,000 after acquiring an additional 439 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Appian by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company's stock worth $153,000 after acquiring an additional 305 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Appian during the 1st quarter worth approximately $962,000. Institutional investors and hedge funds own 52.70% of the company's stock.

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.