Intech Investment Management LLC Raises Stock Holdings in Appian Co. (NASDAQ:APPN)

Intech Investment Management LLC boosted its stake in shares of Appian Co. (NASDAQ:APPN) by 57.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,134 shares of the company’s stock after acquiring an additional 6,631 shares during the quarter. Intech Investment Management LLC’s holdings in Appian were worth $598,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its position in shares of Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock worth $270,000 after purchasing an additional 400 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Appian by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock worth $2,739,000 after purchasing an additional 491 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Appian by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after buying an additional 686 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after buying an additional 1,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Appian by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock valued at $11,432,000 after buying an additional 3,817 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Stock Performance

APPN stock opened at $31.67 on Tuesday. The company’s 50 day moving average price is $32.75 and its 200 day moving average price is $34.23. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -25.13 and a beta of 1.65. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $43.33.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APPN. Barclays raised their target price on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Scotiabank initiated coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective for the company. Finally, KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.80.

Insider Buying and Selling at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the transaction, the director now directly owns 29,348 shares in the company, valued at $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 44.00% of the stock is owned by insiders.

Appian 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.