Appian (NASDAQ:APPN) Trading Up 7.8%

Appian Corp (NASDAQ:APPN) shares were up 7.8% during mid-day trading on Wednesday . The company traded as high as $38.19 and last traded at $40.98, approximately 470,396 shares were traded during trading. A decline of 65% from the average daily volume of 1,338,305 shares. The stock had previously closed at $38.00.

A number of analysts have recently issued reports on APPN shares. BidaskClub upgraded Appian from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 15th. Canaccord Genuity dropped their price target on Appian from $44.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Needham & Company LLC downgraded Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Zacks Investment Research downgraded Appian from a “hold” rating to a “sell” rating in a research report on Thursday, March 12th. Finally, Cowen lifted their price target on Appian from $42.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.76.

The company has a market capitalization of $2.56 billion, a PE ratio of -54.06 and a beta of 0.96. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $46.60 and a two-hundred day moving average of $45.38.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.02). The firm had revenue of $68.62 million for the quarter, compared to analysts’ expectations of $69.78 million. Appian had a negative net margin of 18.96% and a negative return on equity of 41.67%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. Equities analysts forecast that Appian Corp will post -0.72 EPS for the current year.

In related news, Director Michael J. Mulligan sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 44,060 shares of the company’s stock, valued at approximately $2,643,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Albert G.W. Biddle III sold 8,000 shares of Appian stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $38.65, for a total value of $309,200.00. Following the completion of the transaction, the director now directly owns 7,398 shares in the company, valued at $285,932.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock worth $1,071,166. 50.00% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Carroll Financial Associates Inc. purchased a new position in Appian in the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its stake in shares of Appian by 1,432.7% during the third quarter. Tower Research Capital LLC TRC now owns 843 shares of the company’s stock valued at $40,000 after buying an additional 788 shares during the period. Carmichael Hill & Associates Inc. purchased a new position in shares of Appian during the fourth quarter valued at approximately $50,000. Bank of Montreal Can increased its stake in shares of Appian by 53.7% during the fourth quarter. Bank of Montreal Can now owns 4,476 shares of the company’s stock valued at $171,000 after buying an additional 1,564 shares during the period. Finally, Total Clarity Wealth Management Inc. purchased a new position in shares of Appian during the fourth quarter valued at approximately $216,000. 41.74% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Fundamental Analysis

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