Baillie Gifford & Co. Purchases 93,251 Shares of Appian Co. (NASDAQ:APPN)

Baillie Gifford & Co. raised its holdings in shares of Appian Co. (NASDAQ:APPN) by 5.6% in the first quarter, Holdings Channel reports. The institutional investor owned 1,756,419 shares of the company’s stock after buying an additional 93,251 shares during the quarter. Baillie Gifford & Co.’s holdings in Appian were worth $70,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of APPN. Arizona State Retirement System increased its holdings in shares of Appian by 4.6% during the 4th quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock worth $351,000 after purchasing an additional 411 shares during the period. Victory Capital Management Inc. raised its holdings in Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after acquiring an additional 1,027 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Appian during the 4th quarter worth approximately $47,000. Concord Wealth Partners bought a new stake in shares of Appian during the first quarter valued at approximately $85,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Appian by 14.1% in the first quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock valued at $930,000 after purchasing an additional 2,881 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on APPN shares. William Blair reissued an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Barclays dropped their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. KeyCorp lowered their price objective on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Citigroup increased their price objective on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Appian currently has an average rating of “Moderate Buy” and a consensus target price of $46.43.

Appian Trading Up 1.0 %

Shares of NASDAQ APPN traded up $0.30 during trading on Friday, reaching $31.09. The company had a trading volume of 892,238 shares, compared to its average volume of 469,299. Appian Co. has a 52 week low of $26.28 and a 52 week high of $52.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. The business’s 50 day moving average price is $30.62 and its 200-day moving average price is $33.99.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) EPS. As a group, research analysts forecast that Appian Co. will post -1.38 EPS for the current year.

Insiders Place Their Bets

In other Appian news, Director Albert G.W. Biddle III purchased 3,225 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the transaction, the director now directly owns 19,689 shares in the company, valued at $551,685.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 44.00% of the company’s stock.

Appian 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.