Appian Co. (NASDAQ:APPN) Shares Bought by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its position in shares of Appian Co. (NASDAQ:APPN) by 70.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 474,100 shares of the company’s stock after acquiring an additional 196,435 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.66% of Appian worth $18,922,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in APPN. Vanguard Group Inc. raised its position in Appian by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Appian by 31.6% in the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after purchasing an additional 317,411 shares in the last quarter. Norges Bank acquired a new stake in shares of Appian in the fourth quarter valued at about $10,534,000. Hawk Ridge Capital Management LP boosted its holdings in Appian by 14.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after buying an additional 236,230 shares in the last quarter. Finally, Stanley Laman Group Ltd. acquired a new position in Appian during the fourth quarter worth about $7,955,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on APPN shares. KeyCorp lifted their price target on shares of Appian from $37.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays reduced their price objective on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Appian currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp purchased 200,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $35.29 per share, for a total transaction of $7,058,000.00. Following the completion of the acquisition, the insider now directly owns 7,345,647 shares in the company, valued at approximately $259,227,882.63. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 200,000 shares of Appian stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $35.29 per share, with a total value of $7,058,000.00. Following the purchase, the insider now directly owns 7,345,647 shares in the company, valued at approximately $259,227,882.63. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Albert G.W. Biddle III acquired 3,225 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $28.02 per share, with a total value of $90,364.50. Following the transaction, the director now owns 19,689 shares of the company’s stock, valued at $551,685.78. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 966,568 shares of company stock worth $31,464,952. Corporate insiders own 44.00% of the company’s stock.

Appian Trading Up 6.9 %

Shares of Appian stock opened at $37.49 on Friday. Appian Co. has a 1 year low of $26.28 and a 1 year high of $52.99. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day moving average price of $30.87 and a 200 day moving average price of $33.69. The company has a market capitalization of $2.71 billion, a P/E ratio of -25.50 and a beta of 1.48.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). The company had revenue of $149.80 million during the quarter, compared to analyst estimates of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.42) earnings per share. Sell-side analysts anticipate that Appian Co. will post -1.38 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.