Standard Life Aberdeen plc purchased a new position in shares of Appian Corp (NASDAQ:APPN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 49,035 shares of the company’s stock, valued at approximately $1,310,000. Standard Life Aberdeen plc owned 0.08% of Appian at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Appian by 29.6% during the 4th quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock worth $40,000 after buying an additional 331 shares during the period. Advisor Group Inc. increased its stake in Appian by 12.2% during the 4th quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock worth $74,000 after buying an additional 300 shares during the period. PNC Financial Services Group Inc. increased its stake in Appian by 295.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,660 shares of the company’s stock worth $97,000 after buying an additional 2,735 shares during the period. Fox Run Management L.L.C. purchased a new stake in Appian during the 4th quarter worth $210,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Appian in the 3rd quarter worth about $295,000. 27.54% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Robert Charles Kramer sold 38,947 shares of Appian stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $35.61, for a total value of $1,386,902.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Christopher Winters sold 2,757 shares of Appian stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $35.00, for a total transaction of $96,495.00. Following the completion of the transaction, the general counsel now directly owns 9,657 shares of the company’s stock, valued at $337,995. The disclosure for this sale can be found here. In the last three months, insiders bought 565,745 shares of company stock valued at $14,399,985 and sold 91,704 shares valued at $3,317,548. 64.00% of the stock is currently owned by insiders.
Appian (NASDAQ:APPN) last released its earnings results on Thursday, February 21st. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. The company had revenue of $60.22 million during the quarter, compared to the consensus estimate of $55.74 million. Appian had a negative net margin of 21.81% and a negative return on equity of 87.66%. The company’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) EPS. On average, equities research analysts forecast that Appian Corp will post -0.63 earnings per share for the current fiscal year.
Several research firms have recently weighed in on APPN. Canaccord Genuity boosted their target price on shares of Appian from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Friday, February 22nd. Zacks Investment Research raised shares of Appian from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, February 26th. BidaskClub raised shares of Appian from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. Goldman Sachs Group began coverage on shares of Appian in a research report on Friday, February 1st. They issued a “sell” rating and a $26.00 target price for the company. Finally, SunTrust Banks boosted their target price on shares of Appian to $32.00 and gave the stock a “hold” rating in a research report on Monday, February 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Appian has an average rating of “Hold” and a consensus price target of $31.50.
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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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