Versor Investments LP Takes Position in Appian Co. (NASDAQ:APPN)

Versor Investments LP purchased a new position in Appian Co. (NASDAQ:APPN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,400 shares of the company’s stock, valued at approximately $574,000.

Several other large investors have also recently made changes to their positions in the company. Abdiel Capital Advisors LP boosted its position in Appian by 72.6% during the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after acquiring an additional 4,278,969 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Appian by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after purchasing an additional 5,772 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Appian by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock worth $11,432,000 after purchasing an additional 3,817 shares during the last quarter. King Luther Capital Management Corp grew its position in shares of Appian by 41.4% in the third quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock valued at $4,888,000 after purchasing an additional 41,922 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Appian by 282.8% in the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock valued at $4,584,000 after purchasing an additional 99,198 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Appian Stock Performance

Shares of Appian stock opened at $32.47 on Friday. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The company has a market cap of $2.77 billion, a P/E ratio of -25.77 and a beta of 1.64. The firm has a fifty day moving average of $33.83 and a two-hundred day moving average of $34.30.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts predict that Appian Co. will post -0.28 earnings per share for the current year.

Insider Buying and Selling at Appian

In related news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now directly owns 7,966 shares in the company, valued at approximately $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the transaction, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on APPN shares. Barclays boosted their price target on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Scotiabank started coverage on shares of Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Appian has an average rating of “Hold” and a consensus price target of $40.17.

Appian Profile

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.