Appian Corporation (NASDAQ:APPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Appian Corporation provides low-code software development platform which enables organizations to develop various applications primarily in the United States and internationally. The Company’s products include business process management software, case management, mobile application development and platform as a service. It serves financial services, healthcare, government, telecommunications, media, energy, manufacturing and transportation organizations. Appian Corporation is headquartered in Reston, Virginia. “

Other analysts also recently issued reports about the company. Pacific Crest began coverage on Appian Corporation in a research report on Monday, June 19th. They set a “sector weight” rating on the stock. Canaccord Genuity boosted their target price on Appian Corporation from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, August 4th. Cowen and Company began coverage on Appian Corporation in a research report on Monday, June 19th. They set an “outperform” rating on the stock. Barclays PLC reiterated an “equal weight” rating and set a $20.00 target price (up from $19.00) on shares of Appian Corporation in a research report on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) began coverage on Appian Corporation in a research report on Monday, June 19th. They set a “neutral” rating and a $17.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Appian Corporation presently has a consensus rating of “Hold” and an average price target of $20.80.

Appian Corporation (NASDAQ APPN) opened at 25.95 on Tuesday. Appian Corporation has a one year low of $14.60 and a one year high of $27.89. The stock’s market cap is $1.56 billion. The firm has a 50-day moving average price of $21.78 and a 200-day moving average price of $19.95.

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In related news, major shareholder Qualified Master Fund L. Abdiel acquired 109,520 shares of Appian Corporation stock in a transaction dated Friday, July 14th. The shares were acquired at an average cost of $19.65 per share, for a total transaction of $2,152,068.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Qualified Master Fund L. Abdiel acquired 22,438 shares of Appian Corporation stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average price of $19.50 per share, for a total transaction of $437,541.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,781,126 shares of company stock worth $32,734,054.

Several large investors have recently modified their holdings of the company. LMR Partners LLP purchased a new stake in shares of Appian Corporation in the second quarter valued at $201,000. Tower Research Capital LLC TRC purchased a new stake in shares of Appian Corporation in the second quarter valued at $238,000. Neuberger Berman Group LLC purchased a new stake in shares of Appian Corporation in the second quarter valued at $292,000. Ameriprise Financial Inc. purchased a new stake in shares of Appian Corporation in the second quarter valued at $323,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Appian Corporation in the second quarter valued at $370,000. Institutional investors and hedge funds own 11.61% of the company’s stock.

Appian Corporation Company Profile

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

Analyst Recommendations for Appian Corporation (NASDAQ:APPN)

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