Appian (NASDAQ:APPN) Downgraded by BidaskClub

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BidaskClub downgraded shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

Several other research firms also recently weighed in on APPN. ValuEngine downgraded shares of Appian from a buy rating to a hold rating in a research report on Friday, September 20th. SunTrust Banks raised their price objective on shares of Appian from $32.00 to $46.00 and gave the company a hold rating in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Appian from a buy rating to a hold rating in a research report on Wednesday, October 30th. Finally, Barclays set a $41.00 price objective on shares of Appian and gave the company a hold rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $38.16.

APPN traded up $0.88 during midday trading on Thursday, reaching $41.95. The company’s stock had a trading volume of 452,800 shares, compared to its average volume of 608,673. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -52.44 and a beta of 0.99. The stock’s 50-day moving average is $45.99 and its 200-day moving average is $42.37. Appian has a 1 year low of $24.03 and a 1 year high of $62.94. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. Appian had a negative net margin of 20.80% and a negative return on equity of 61.04%. The company had revenue of $69.39 million for the quarter, compared to the consensus estimate of $65.26 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. As a group, equities research analysts forecast that Appian will post -0.79 earnings per share for the current fiscal year.

In related news, VP David Leon Mitchell sold 750 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $61.00, for a total transaction of $45,750.00. Following the completion of the transaction, the vice president now directly owns 10,705 shares of the company’s stock, valued at $653,005. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew W. Calkins sold 375,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $55.70, for a total transaction of $20,887,500.00. The disclosure for this sale can be found here. Insiders have sold 626,408 shares of company stock valued at $33,757,727 over the last ninety days. 50.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Great Lakes Advisors LLC purchased a new position in Appian during the third quarter valued at $12,274,000. Tower Research Capital LLC TRC grew its stake in shares of Appian by 1,432.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 843 shares of the company’s stock worth $40,000 after buying an additional 788 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Appian by 1,005.9% in the 3rd quarter. SG Americas Securities LLC now owns 75,204 shares of the company’s stock worth $3,572,000 after buying an additional 68,404 shares in the last quarter. Aubrey Capital Management Ltd grew its stake in shares of Appian by 7.1% in the 3rd quarter. Aubrey Capital Management Ltd now owns 105,000 shares of the company’s stock worth $4,988,000 after buying an additional 7,000 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Appian in the 3rd quarter worth $233,000. 35.96% of the stock is owned by institutional investors.

Appian Company Profile

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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