Appian (NASDAQ:APPN) released its quarterly earnings data on Wednesday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.07, MarketWatch Earnings reports. Appian had a negative return on equity of 21.63% and a negative net margin of 20.00%. In the same quarter of the previous year, the company made ($0.09) earnings per share.
Shares of NASDAQ:APPN traded at $6.59 in Friday’s midday session, hitting $55.87. The company’s shares had a trading volume of 64,979 shares, compared to an average volume of 604,424. The company has a market capitalization of $3.98 billion, a price-earnings ratio of -57.49 and a beta of 1.76. Appian has a 1-year minimum of $46.85 and a 1-year maximum of $222.25. The company has a 50-day moving average price of $60.18 and a 200-day moving average price of $82.87.
Several brokerages have recently published reports on APPN. Needham & Company LLC cut its price target on Appian from $186.00 to $170.00 and set a “buy” rating for the company in a Friday, November 5 report. Barclays cut its price target on Appian from $90.00 to $47.00 and set an “underweight” rating for the company in a Wednesday, January 12 report. Truist Financial lowered its price target on Appian from $100.00 to $65.00 in a research report on Friday. Zacks Investment Research downgraded Appian from a “hold” rating to a “sell” rating in a Friday, November 12 research report. Finally, Morgan Stanley lowered its price target on Appian from $87.00 to $55.00 and set an “equal weight” rating for the company in a Tuesday, January 25 research report. Two investment analysts have assigned the stock a sell rating, three have assigned a hold rating and two have assigned the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.50.
In other Appian news, Director Michael G. Devine acquired 400 shares in a transaction dated Friday, December 3. The shares were acquired at an average price of $66.19 per share, with a total value of $26,476.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, major shareholder Abdiel Capital Management, Llc acquired 126,350 shares in a transaction dated Tuesday, February 1. The shares were acquired at an average cost of $58.34 per share, with a total value of $7,371,259.00. Disclosure of this purchase can be found here. Over the past ninety days, insiders have purchased 153,650 shares of the company valued at $8,711,032. Insiders of the company hold 43.90% of the shares of the company.
Hedge funds have recently been buying and selling shares of the company. Penserra Capital Management LLC increased its position in Appian by 60.3% during the fourth quarter. Penserra Capital Management LLC now owns 1,212 shares of the company valued at $79,000 after acquiring 456 additional shares during the period. NEXT Financial Group Inc increased its stake in Appian shares by 21.6% during the fourth quarter. NEXT Financial Group Inc now owns 4,337 shares of the company worth $283,000 after purchasing an additional 770 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in Appian shares by 3.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,755 shares of the company worth $440,000 after buying 229 additional shares in the last quarter. Squarepoint Ops LLC acquired a new position in Appian stock during the fourth quarter worth approximately $721,000. Finally, Cubist Systematic Strategies LLC increased its stake in Appian shares by 37.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 29,096 shares of the company worth $1,897,000 after purchasing an additional 7,949 shares last quarter. 81.02% of the shares are held by hedge funds and other institutional investors.
Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measure business processes. The company’s products include BPM software, case management, mobile application development and platform as a service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson and Michael Beckley in 1999 and is based in Reston, Virginia.
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