Stanley Laman Group Ltd. Purchases New Position in Appian Co. (NASDAQ:APPN)

Stanley Laman Group Ltd. purchased a new stake in Appian Co. (NASDAQ:APPN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 211,228 shares of the company’s stock, valued at approximately $7,955,000. Appian comprises approximately 1.2% of Stanley Laman Group Ltd.’s portfolio, making the stock its 17th largest holding. Stanley Laman Group Ltd. owned about 0.29% of Appian as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APPN. Atria Wealth Solutions Inc. purchased a new stake in Appian in the third quarter valued at $213,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Appian by 16.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company’s stock valued at $225,000 after buying an additional 695 shares during the last quarter. Rathbones Group PLC purchased a new stake in shares of Appian in the third quarter valued at about $283,000. SG Americas Securities LLC purchased a new stake in shares of Appian in the fourth quarter valued at about $308,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Appian by 107.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,670 shares of the company’s stock valued at $327,000 after buying an additional 4,490 shares during the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APPN has been the subject of a number of research reports. Citigroup upped their target price on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. KeyCorp boosted their price target on shares of Appian from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. William Blair reiterated an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. DA Davidson dropped their price target on shares of Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Finally, Barclays boosted their price target on shares of Appian from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Appian presently has an average rating of “Moderate Buy” and an average target price of $48.86.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the sale, the insider now directly owns 5,890,304 shares in the company, valued at $191,081,461.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.60% of the stock is currently owned by company insiders.

Appian Price Performance

APPN traded down $0.46 on Thursday, hitting $36.20. 512,207 shares of the company were exchanged, compared to its average volume of 493,379. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The business’s fifty day moving average is $36.61 and its 200 day moving average is $36.79. Appian Co. has a fifty-two week low of $30.87 and a fifty-two week high of $54.26. The firm has a market capitalization of $2.66 billion, a P/E ratio of -23.66 and a beta of 1.46.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The company had revenue of $145.32 million for the quarter, compared to analyst estimates of $140.41 million. As a group, sell-side analysts anticipate that Appian Co. will post -0.98 EPS for the current year.

Appian Company Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.