Northern Trust Corp Buys 12,337 Shares of Appian Co. (NASDAQ:APPN)

Northern Trust Corp grew its holdings in shares of Appian Co. (NASDAQ:APPN - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 363,921 shares of the company's stock after acquiring an additional 12,337 shares during the period. Northern Trust Corp owned 0.43% of Appian worth $12,002,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of APPN. Barclays PLC grew its stake in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after purchasing an additional 53,172 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Appian by 18.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company's stock worth $1,081,000 after buying an additional 4,813 shares during the period. Entropy Technologies LP acquired a new stake in shares of Appian during the 4th quarter worth approximately $208,000. Handelsbanken Fonder AB increased its stake in shares of Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock valued at $284,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock valued at $270,000 after acquiring an additional 400 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on APPN. Scotiabank decreased their price target on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Citigroup upped their target price on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Barclays lifted their price target on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Morgan Stanley boosted their price objective on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, DA Davidson raised their target price on Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.29.

Appian Stock Down 0.3%

APPN traded down $0.09 on Tuesday, hitting $32.15. The company's stock had a trading volume of 546,128 shares, compared to its average volume of 559,141. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33. The firm has a market cap of $2.38 billion, a P/E ratio of -25.52 and a beta of 1.83. The company's 50 day simple moving average is $29.59 and its 200-day simple moving average is $33.27.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.43 million during the quarter, compared to analyst estimates of $163.27 million. During the same period last year, the company earned ($0.24) earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the transaction, the director now directly owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the sale, the insider now owns 9,942,140 shares in the company, valued at $263,367,288.60. This trade represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 645,225 shares of company stock valued at $19,769,599 in the last quarter. 43.00% of the stock is currently owned by corporate insiders.

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.