Raymond James Financial Inc. Makes New $1.69 Million Investment in Appian Co. (NASDAQ:APPN)

Raymond James Financial Inc. bought a new stake in shares of Appian Co. (NASDAQ:APPN) during the fourth quarter, Holdings Channel.com reports. The fund bought 51,171 shares of the company’s stock, valued at approximately $1,688,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC grew its holdings in Appian by 199.4% in the third quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after purchasing an additional 3,953 shares during the period. Entropy Technologies LP purchased a new position in shares of Appian during the 4th quarter valued at approximately $208,000. Oppenheimer & Co. Inc. grew its stake in Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after acquiring an additional 400 shares during the period. Handelsbanken Fonder AB increased its holdings in Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock worth $284,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Appian during the third quarter worth $393,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Insider Transactions at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the sale, the director now directly owns 29,348 shares in the company, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 44.00% of the company’s stock.

Appian Trading Down 1.8 %

APPN stock opened at $28.81 on Tuesday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -22.87 and a beta of 1.65. The firm has a 50-day moving average of $32.49 and a two-hundred day moving average of $34.21. Appian Co. has a 12 month low of $26.28 and a 12 month high of $43.33.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 EPS. As a group, equities analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

APPN has been the topic of several research analyst reports. Barclays lifted their target price on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Scotiabank assumed coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $37.80.

Appian Company Profile

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.