Appian Corp (NASDAQ:APPN) shares rose 6.1% during mid-day trading on Monday . The stock traded as high as $27.39 and last traded at $27.16. Approximately 577,515 shares traded hands during trading, an increase of 12% from the average daily volume of 517,101 shares. The stock had previously closed at $25.59.
APPN has been the topic of several research reports. Barclays upped their price objective on shares of Appian from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Friday, September 7th. Canaccord Genuity upped their price objective on shares of Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. Morgan Stanley upped their price objective on shares of Appian from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, August 3rd. BidaskClub downgraded shares of Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Zacks Investment Research downgraded shares of Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $27.29.
The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -46.67 and a beta of 1.81.
Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 1st. The company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. Appian had a negative net margin of 19.54% and a negative return on equity of 109.53%. The firm had revenue of $54.95 million for the quarter, compared to the consensus estimate of $49.73 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue was up 23.1% on a year-over-year basis. Analysts forecast that Appian Corp will post -0.76 earnings per share for the current year.
In other news, insider Robert Charles Kramer sold 25,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $34.78, for a total value of $869,500.00. Following the completion of the sale, the insider now owns 4,000 shares in the company, valued at $139,120. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew W. Calkins sold 200,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $34.78, for a total transaction of $6,956,000.00. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,080,167 shares of company stock valued at $28,442,017 and sold 283,500 shares valued at $9,515,435. Corporate insiders own 64.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Appian in the third quarter valued at about $166,000. UBS Group AG raised its holdings in shares of Appian by 240.8% in the first quarter. UBS Group AG now owns 6,717 shares of the company’s stock valued at $169,000 after purchasing an additional 4,746 shares during the last quarter. California Public Employees Retirement System purchased a new stake in shares of Appian in the second quarter valued at about $207,000. Point72 Asset Management L.P. purchased a new stake in shares of Appian in the second quarter valued at about $264,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Appian in the second quarter valued at about $273,000. Institutional investors own 17.43% of the company’s stock.
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About Appian (NASDAQ:APPN)
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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