Raymond James & Associates Purchases Shares of 13,785 Appian Corp (APPN)

Raymond James & Associates purchased a new position in shares of Appian Corp (NASDAQ:APPN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,785 shares of the company’s stock, valued at approximately $498,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APPN. Northern Trust Corp raised its stake in Appian by 66.2% in the first quarter. Northern Trust Corp now owns 38,595 shares of the company’s stock valued at $972,000 after buying an additional 15,371 shares in the last quarter. BlackRock Inc. raised its stake in Appian by 22.3% in the first quarter. BlackRock Inc. now owns 161,385 shares of the company’s stock valued at $4,064,000 after buying an additional 29,428 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Appian in the first quarter valued at $219,000. UBS Group AG raised its stake in 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 buying an additional 4,746 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Appian by 2,038.9% in the second quarter. Bank of Montreal Can now owns 7,700 shares of the company’s stock valued at $278,000 after buying an additional 7,340 shares in the last quarter. 17.30% of the stock is currently owned by hedge funds and other institutional investors.

APPN opened at $24.14 on Friday. Appian Corp has a one year low of $19.62 and a one year high of $43.61. The stock has a market cap of $1.55 billion, a PE ratio of -39.57 and a beta of 0.56.



Appian (NASDAQ:APPN) last posted its earnings results on Thursday, August 2nd. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.03. Appian had a negative return on equity of 81.10% and a negative net margin of 16.28%. The business had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $50.31 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year. Research analysts forecast that Appian Corp will post -0.75 EPS for the current fiscal year.

In other news, major shareholder Qualified Master Fund L. Abdiel bought 74,360 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The shares were acquired at an average price of $23.72 per share, for a total transaction of $1,763,819.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Abdiel Capital Management, Llc bought 54,043 shares of the business’s stock in a transaction dated Friday, October 19th. The shares were purchased at an average price of $23.68 per share, for a total transaction of $1,279,738.24. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,064,750 shares of company stock worth $29,309,608 and have sold 288,500 shares worth $9,788,485. 64.00% of the stock is currently owned by insiders.

A number of analysts have weighed in on the company. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Barclays restated a “sell” rating and issued a $28.00 price target (up from $27.00) on shares of Appian in a research note on Sunday, August 5th. Zacks Investment Research cut Appian from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Morgan Stanley raised their price target on Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, August 3rd. Finally, Canaccord Genuity raised their price target on Appian from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Appian currently has a consensus rating of “Hold” and a consensus target price of $27.29.

Appian Company Profile

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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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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