Appian (NASDAQ:APPN) Now Covered by Scotiabank

Equities research analysts at Scotiabank initiated coverage on shares of Appian (NASDAQ:APPN) in a note issued to investors on Monday, Marketbeat.com reports. The firm set a “sector perform” rating and a $37.00 price target on the stock. Scotiabank’s target price indicates a potential upside of 5.38% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Barclays boosted their target price on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. DA Davidson restated a “neutral” rating and set a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.17.

Appian Trading Up 0.7 %

Shares of APPN stock opened at $35.11 on Monday. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The company has a market cap of $3.00 billion, a P/E ratio of -28.78 and a beta of 1.61. The firm has a fifty day moving average price of $37.03 and a 200 day moving average price of $33.84.

Insider Activity

In other news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the sale, the director now directly owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Appian in the third quarter valued at approximately $29,000. Canada Pension Plan Investment Board purchased a new position in Appian in the 2nd quarter valued at $96,000. Point72 Hong Kong Ltd acquired a new position in Appian in the 2nd quarter valued at $121,000. Point72 Asia Singapore Pte. Ltd. raised its position in Appian by 35.8% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after buying an additional 1,088 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after acquiring an additional 3,953 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.