Analysts at SunTrust Banks, Inc. started coverage on shares of Appian Corporation (NASDAQ:APPN) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the stock.

APPN has been the topic of several other research reports. Zacks Investment Research lowered shares of Appian Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Barclays PLC reiterated an “equal weight” rating and set a $20.00 price target (up previously from $19.00) on shares of Appian Corporation in a research report on Friday, August 4th. Canaccord Genuity raised their target price on shares of Appian Corporation from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, August 4th. Morgan Stanley raised their target price on shares of Appian Corporation from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of Appian Corporation in a research report on Monday, September 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.00.

Shares of Appian Corporation (NASDAQ APPN) opened at $19.69 on Tuesday. Appian Corporation has a 52-week low of $14.60 and a 52-week high of $28.65.

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In other Appian Corporation news, major shareholder Qualified Master Fund L. Abdiel purchased 65,533 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average price of $22.23 per share, with a total value of $1,456,798.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel purchased 28,800 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were acquired at an average cost of $22.14 per share, with a total value of $637,632.00. The disclosure for this purchase can be found here. Insiders acquired 596,376 shares of company stock worth $12,316,507 in the last 90 days.

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Appian Corporation by 27.9% during the third quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock valued at $14,673,000 after acquiring an additional 127,545 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Appian Corporation by 24.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 34,348 shares of the company’s stock valued at $977,000 after acquiring an additional 6,828 shares during the last quarter. New York State Common Retirement Fund bought a new position in shares of Appian Corporation during the third quarter valued at $205,000. Lord Abbett & CO. LLC bought a new position in shares of Appian Corporation during the second quarter valued at $8,134,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Appian Corporation during the second quarter valued at $238,000. 11.56% of the stock is owned by hedge funds and other institutional investors.

Appian Corporation Company Profile

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.

Analyst Recommendations for Appian Corporation (NASDAQ:APPN)

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