Clear Perspective Advisors LLC Raises Stake in Appian Co. (NASDAQ:APPN)

Clear Perspective Advisors LLC grew its holdings in Appian Co. (NASDAQ:APPN) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,900 shares of the company’s stock after purchasing an additional 215 shares during the period. Clear Perspective Advisors LLC’s holdings in Appian were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. PDT Partners LLC acquired a new position in shares of Appian in the 1st quarter valued at $2,781,000. Parkwood LLC lifted its stake in Appian by 199.6% during the 2nd quarter. Parkwood LLC now owns 22,451 shares of the company’s stock worth $3,093,000 after acquiring an additional 14,958 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Appian by 11.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 147,507 shares of the company’s stock worth $20,319,000 after acquiring an additional 14,770 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in Appian in the 1st quarter valued at about $290,000. Finally, Advisory Services Network LLC raised its position in Appian by 29.7% in the 1st quarter. Advisory Services Network LLC now owns 27,034 shares of the company’s stock valued at $3,594,000 after purchasing an additional 6,184 shares in the last quarter. 38.52% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on APPN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $186.00 price target on shares of Appian in a research report on Tuesday, October 5th. Truist Securities dropped their price objective on Appian from $205.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, August 2nd. Truist dropped their price objective on Appian from $205.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, August 2nd. They noted that the move was a valuation call. Barclays increased their price objective on Appian from $77.00 to $90.00 and gave the company an “underweight” rating in a report on Friday, September 17th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Appian from a “sell” rating to a “hold” rating in a report on Wednesday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $123.86.

Shares of APPN stock traded up $0.50 during midday trading on Thursday, hitting $92.09. The company had a trading volume of 10,301 shares, compared to its average volume of 475,072. The company’s 50 day simple moving average is $100.90 and its 200 day simple moving average is $111.35. Appian Co. has a 52-week low of $62.29 and a 52-week high of $260.00. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -136.70 and a beta of 1.77.

Appian (NASDAQ:APPN) last announced its earnings results on Wednesday, August 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Appian had a negative net margin of 14.33% and a negative return on equity of 14.87%. The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $77.74 million. Analysts forecast that Appian Co. will post -0.94 EPS for the current fiscal year.

Appian Profile

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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