SunTrust Banks lowered shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a research report report published on Monday, January 8th, MarketBeat Ratings reports. SunTrust Banks currently has $28.00 target price on the stock.
Several other analysts also recently weighed in on APPN. Cowen downgraded Appian from an outperform rating to a market perform rating and set a $23.00 price objective for the company. in a report on Monday, October 2nd. Canaccord Genuity reiterated a hold rating on shares of Appian in a research note on Monday, November 6th. Zacks Investment Research lowered Appian from a buy rating to a hold rating in a research note on Monday, October 16th. Barclays lowered Appian from an equal weight rating to an underweight rating and set a $26.00 target price on the stock. in a research note on Monday, January 8th. Finally, Morgan Stanley lifted their target price on Appian from $18.00 to $19.00 and gave the company an equal weight rating in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $23.57.
Appian (NASDAQ:APPN) traded down $1.19 during trading hours on Monday, hitting $28.61. The stock had a trading volume of 452,924 shares, compared to its average volume of 777,021. Appian has a fifty-two week low of $14.60 and a fifty-two week high of $43.26.
Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 2nd. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. equities research analysts predict that Appian will post -0.61 EPS for the current year.
In other news, major shareholder Qualified Master Fund L. Abdiel bought 17,473 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $20.14 per share, with a total value of $351,906.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Abdiel Capital Management, Llc bought 79,036 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were purchased at an average cost of $20.40 per share, with a total value of $1,612,334.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 962,543 shares of company stock valued at $19,624,763 and have sold 1,097,222 shares valued at $21,384,857.
A number of large investors have recently made changes to their positions in the business. Rockefeller Financial Services Inc. acquired a new position in Appian in the fourth quarter valued at approximately $420,000. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Appian by 25.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 307,117 shares of the company’s stock worth $9,668,000 after buying an additional 61,344 shares during the period. Nepsis Capital Management Inc. acquired a new position in shares of Appian during the 4th quarter worth approximately $4,306,000. JPMorgan Chase & Co. raised its stake in shares of Appian by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock worth $14,673,000 after buying an additional 127,545 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Appian by 24.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 34,348 shares of the company’s stock worth $977,000 after buying an additional 6,828 shares during the period. 11.83% of the stock is owned by institutional investors.
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Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.
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