Northern Trust Corp lowered its position in Appian Corp (NASDAQ:APPN) by 27.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,941 shares of the company’s stock after selling 10,654 shares during the period. Northern Trust Corp’s holdings in Appian were worth $1,011,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of APPN. UBS Group AG raised its position in shares of Appian by 240.8% in the first quarter. UBS Group AG now owns 6,717 shares of the company’s stock worth $169,000 after acquiring an additional 4,746 shares during the period. California Public Employees Retirement System acquired a new position in shares of Appian in the second quarter worth about $207,000. Point72 Asset Management L.P. acquired a new position in shares of Appian in the second quarter worth about $264,000. Tocqueville Asset Management L.P. acquired a new position in shares of Appian in the second quarter worth about $273,000. Finally, Bank of Montreal Can raised its position in shares of Appian by 2,038.9% in the second quarter. Bank of Montreal Can now owns 7,700 shares of the company’s stock worth $278,000 after acquiring an additional 7,340 shares during the period. Institutional investors and hedge funds own 22.20% of the company’s stock.

Appian stock opened at $28.70 on Thursday. Appian Corp has a 1-year low of $19.62 and a 1-year high of $43.61. The company has a market capitalization of $1.83 billion, a PE ratio of -47.05 and a beta of 1.89.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The business had revenue of $54.95 million during the quarter, compared to analysts’ expectations of $49.73 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, sell-side analysts forecast that Appian Corp will post -0.77 earnings per share for the current year.

APPN has been the subject of several research analyst reports. BidaskClub upgraded shares of Appian from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Barclays upped their price target on shares of Appian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research downgraded shares of Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Appian currently has a consensus rating of “Hold” and an average price target of $27.67.

In related news, CFO Mark Steven Lynch sold 3,050 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $27.60, for a total transaction of $84,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Charles Kramer sold 3,500 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $30.61, for a total transaction of $107,135.00. Following the transaction, the insider now directly owns 7,500 shares of the company’s stock, valued at approximately $229,575. The disclosure for this sale can be found here. In the last three months, insiders bought 1,265,849 shares of company stock valued at $33,111,919 and sold 82,645 shares valued at $2,342,314. Corporate insiders own 64.00% of the company’s stock.

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Appian Profile

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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