SG Americas Securities LLC Purchases 23,593 Shares of Appian Corporation $APPN

SG Americas Securities LLC lifted its position in Appian Corporation (NASDAQ:APPN) by 140.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,436 shares of the company’s stock after acquiring an additional 23,593 shares during the period. SG Americas Securities LLC owned 0.05% of Appian worth $1,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Appian by 89.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock worth $36,000 after purchasing an additional 564 shares during the period. Globeflex Capital L P bought a new stake in shares of Appian during the 2nd quarter valued at $90,000. Tower Research Capital LLC TRC grew its position in shares of Appian by 456.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company’s stock worth $128,000 after buying an additional 3,513 shares during the period. State of Tennessee Department of Treasury bought a new position in shares of Appian in the 2nd quarter worth about $129,000. Finally, State of Wyoming purchased a new position in Appian during the 2nd quarter valued at about $143,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Zacks Research cut shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Morgan Stanley upgraded Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday. Barclays reduced their price objective on Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Appian from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 6th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.40.

Appian Trading Down 3.5%

Appian stock opened at $28.62 on Friday. Appian Corporation has a 12 month low of $24.00 and a 12 month high of $46.06. The stock has a fifty day simple moving average of $38.04 and a two-hundred day simple moving average of $32.89. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -286.17 and a beta of 0.82.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $174.11 million. During the same period last year, the business earned $0.15 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. On average, equities research analysts forecast that Appian Corporation will post -0.28 EPS for the current fiscal year.

Appian Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.