Appian (NASDAQ:APPN) Stock Rating Lowered by KeyCorp

Appian (NASDAQ:APPN) was downgraded by research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Friday, Briefing.com reports.

A number of other research analysts have also commented on the company. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Barclays cut their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.29.

Appian Stock Down 20.3 %

Shares of NASDAQ APPN opened at $29.43 on Friday. The firm’s fifty day moving average is $31.22 and its 200 day moving average is $33.74. Appian has a 52 week low of $26.28 and a 52 week high of $52.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -20.02 and a beta of 1.48.

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

Insider Activity at Appian

In other news, Director Albert G.W. Biddle III acquired 3,225 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the acquisition, the director now owns 19,689 shares in the company, valued at $551,685.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Appian news, Director Albert G.W. Biddle III acquired 3,225 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average price of $28.02 per share, with a total value of $90,364.50. Following the completion of the purchase, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp bought 25,121 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were acquired at an average cost of $33.35 per share, with a total value of $837,785.35. Following the purchase, the insider now directly owns 7,045,647 shares of the company’s stock, valued at approximately $234,972,327.45. The disclosure for this purchase can be found here. Insiders have bought 1,381,568 shares of company stock worth $46,783,802 over the last ninety days. 44.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APPN. Vanguard Group Inc. grew its stake in shares of Appian by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares during the last quarter. Hawk Ridge Capital Management LP boosted its stake in Appian by 14.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares in the last quarter. Baillie Gifford & Co. grew its position in Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after purchasing an additional 93,251 shares during the last quarter. First Trust Advisors LP increased its stake in Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after purchasing an additional 317,411 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after purchasing an additional 196,435 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.