Appian Corporation $APPN Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in shares of Appian Corporation (NASDAQ:APPN) by 30.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 42,658 shares of the company’s stock after selling 18,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Appian were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Appian by 35.5% during the second quarter. IFP Advisors Inc now owns 1,108 shares of the company’s stock worth $25,000 after buying an additional 290 shares in the last quarter. KBC Group NV acquired a new stake in Appian during the first quarter valued at $31,000. Sterling Capital Management LLC increased its holdings in Appian by 820.0% in the third quarter. Sterling Capital Management LLC now owns 1,288 shares of the company’s stock valued at $45,000 after buying an additional 1,148 shares in the last quarter. Allworth Financial LP increased its holdings in Appian by 15.0% in the second quarter. Allworth Financial LP now owns 2,678 shares of the company’s stock valued at $61,000 after buying an additional 350 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Appian in the second quarter valued at $63,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Appian

In other news, CEO Matthew Calkins sold 45,000 shares of Appian stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $37.50, for a total value of $1,687,500.00. Following the sale, the chief executive officer owned 1,584,144 shares in the company, valued at $59,405,400. This trade represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 42.81% of the stock is currently owned by insiders.

Appian Stock Performance

Appian stock opened at $49.82 on Thursday. The company’s fifty day moving average price is $41.03 and its 200 day moving average price is $29.30. Appian Corporation has a 1 year low of $18.63 and a 1 year high of $54.12. The stock has a market capitalization of $3.57 billion, a P/E ratio of -332.11 and a beta of 0.84.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter. The company had revenue of $203.26 million during the quarter, compared to analysts’ expectations of $193.38 million. Appian had a negative net margin of 1.34% and a negative return on equity of 35.20%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. Sell-side analysts predict that Appian Corporation will post 0.46 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on APPN shares. Citigroup upped their price objective on shares of Appian from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Morgan Stanley lifted their price target on Appian from $25.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. DA Davidson upped their price target on Appian from $34.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Weiss Ratings upgraded Appian from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd. Finally, Zacks Research downgraded Appian from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $36.50.

Appian Company Profile

Appian Corporation (NASDAQ: APPN) develops and provides a low-code platform designed to help organizations build, manage and automate business applications and processes. Its platform combines process orchestration, workflow automation, artificial intelligence, robotic process automation, case management and data management capabilities in a unified environment.

Appian’s software is used to improve operational efficiency, connect data and systems, and support applications such as customer service, compliance, supply chain management and government services.