Appian Co. (NASDAQ:APPN) Receives Consensus Recommendation of “Hold” from Analysts

Appian Co. (NASDAQ:APPN) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $40.17.

A number of research analysts have recently commented on APPN shares. Barclays upped their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Scotiabank initiated coverage on shares of Appian in a research note on Monday. They issued a “sector perform” rating and a $37.00 target price on the stock. Finally, DA Davidson reaffirmed a “neutral” rating and set a $33.00 price target on shares of Appian in a research note on Monday, October 14th.

Insider Activity

In related news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now directly owns 7,966 shares in the company, valued at $308,921.48. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Appian by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock valued at $2,739,000 after buying an additional 491 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Appian by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock valued at $740,000 after acquiring an additional 686 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Appian in the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Appian by 2.4% during the second quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock worth $1,845,000 after purchasing an additional 1,386 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Down 1.1 %

Shares of Appian stock opened at $34.74 on Friday. Appian has a 52 week low of $26.28 and a 52 week high of $43.33. The company has a market capitalization of $2.97 billion, a PE ratio of -28.48 and a beta of 1.61. The stock’s fifty day moving average is $37.01 and its two-hundred day moving average is $33.91.

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.