Russell Investments Group Ltd. Boosts Stock Holdings in Appian Corporation $APPN

Russell Investments Group Ltd. lifted its position in Appian Corporation (NASDAQ:APPN) by 69.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,638 shares of the company’s stock after acquiring an additional 59,739 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of Appian worth $4,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Appian by 89.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock worth $36,000 after purchasing an additional 564 shares during the last quarter. Headlands Technologies LLC increased its stake in Appian by 2,052.0% in the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock valued at $122,000 after buying an additional 4,022 shares during the last quarter. US Bancorp DE lifted its position in shares of Appian by 215.4% during the 1st quarter. US Bancorp DE now owns 6,506 shares of the company’s stock worth $187,000 after buying an additional 4,443 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Appian by 7.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,386 shares of the company’s stock worth $221,000 after buying an additional 507 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Appian by 40.0% in the second quarter. KLP Kapitalforvaltning AS now owns 7,700 shares of the company’s stock valued at $230,000 after acquiring an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on APPN. Zacks Research lowered Appian from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Barclays raised their target price on Appian from $33.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, November 7th. DA Davidson initiated coverage on shares of Appian in a report on Friday, November 7th. They issued a “hold” rating and a $38.00 price target on the stock. Cowen restated a “hold” rating on shares of Appian in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Appian in a report on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $39.00.

Appian Price Performance

Shares of NASDAQ APPN opened at $40.96 on Friday. The stock has a market capitalization of $3.02 billion, a PE ratio of -409.56 and a beta of 0.84. Appian Corporation has a one year low of $24.00 and a one year high of $46.06. The business’s fifty day moving average price is $34.86 and its 200-day moving average price is $31.82.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The firm had revenue of $187.00 million during the quarter, compared to the consensus estimate of $174.11 million. The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, equities analysts expect that Appian Corporation will post -0.28 EPS for the current fiscal year.

About Appian

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.