Appian Co. (NASDAQ:APPN) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Appian Co. (NASDAQ:APPN - Get Free Report) have received a consensus recommendation of "Hold" from the six brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $40.80.

APPN has been the subject of a number of research reports. Barclays increased their price objective on Appian from $34.00 to $37.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. DA Davidson reissued a "neutral" rating and set a $33.00 price target on shares of Appian in a research report on Monday, October 14th.

Insiders Place Their Bets

In related news, Director William D. Mccarthy sold 700 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the transaction, the director now owns 7,966 shares of the company's stock, valued at approximately $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired at an average price of $33.75 per share, with a total value of $346,443.75. Following the completion of the transaction, the insider now directly owns 10,179,538 shares of the company's stock, valued at $343,559,407.50. This trade represents a 0.10 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 56,271 shares of company stock valued at $1,871,003. Company insiders own 44.00% of the company's stock.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently bought and sold shares of APPN. Neo Ivy Capital Management bought a new position in shares of Appian in the second quarter worth about $65,000. Bank of New York Mellon Corp lifted its holdings in Appian by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company's stock valued at $4,443,000 after purchasing an additional 13,046 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Appian by 36.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,280 shares of the company's stock worth $348,000 after purchasing an additional 2,993 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Appian by 3.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company's stock worth $299,000 after purchasing an additional 280 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Appian during the 2nd quarter valued at $105,000. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Appian Trading Up 2.9 %

Appian stock traded up $1.11 during trading hours on Wednesday, hitting $39.04. 277,559 shares of the stock traded hands, compared to its average volume of 544,516. Appian has a one year low of $26.28 and a one year high of $43.33. The company has a market cap of $3.33 billion, a PE ratio of -31.09 and a beta of 1.57. The firm's 50-day moving average price is $35.79 and its two-hundred day moving average price is $32.89.

About Appian

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.