Appian (NASDAQ:APPN) Coverage Initiated at Scotiabank

Scotiabank initiated coverage on shares of Appian (NASDAQ:APPN) in a report published on Monday, MarketBeat Ratings reports. The firm issued a sector perform rating and a $37.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the stock. Barclays raised their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. DA Davidson reaffirmed a “neutral” rating and set a $33.00 price target on shares of Appian in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.17.

Appian Stock Down 1.1 %

Shares of APPN opened at $34.74 on Monday. The stock has a market capitalization of $2.97 billion, a P/E ratio of -28.48 and a beta of 1.61. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The company has a 50 day moving average of $37.03 and a 200-day moving average of $33.90.

Insider Activity at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares of the company’s stock, valued at $308,921.48. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 44.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Appian

Several hedge funds have recently added to or reduced their stakes in APPN. Allspring Global Investments Holdings LLC acquired a new stake in Appian during the 3rd quarter valued at $29,000. Canada Pension Plan Investment Board acquired a new stake in shares of Appian during the second quarter worth $96,000. Point72 Hong Kong Ltd acquired a new stake in shares of Appian during the second quarter worth $121,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after buying an additional 1,088 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Company 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.