Los Angeles Capital Management LLC Has $930,000 Holdings in Appian Co. (NASDAQ:APPN)

Los Angeles Capital Management LLC grew its holdings in Appian Co. (NASDAQ:APPN) by 14.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,285 shares of the company’s stock after purchasing an additional 2,881 shares during the period. Los Angeles Capital Management LLC’s holdings in Appian were worth $930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of Appian by 0.5% in the third quarter. Rhumbline Advisers now owns 59,692 shares of the company’s stock valued at $2,723,000 after purchasing an additional 299 shares during the last quarter. Arizona State Retirement System increased its holdings in Appian by 4.6% during the fourth quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock worth $351,000 after buying an additional 411 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Appian by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after buying an additional 1,027 shares during the last quarter. Headlands Technologies LLC acquired a new position in Appian during the fourth quarter worth $47,000. Finally, Deutsche Bank AG increased its holdings in Appian by 13.2% during the third quarter. Deutsche Bank AG now owns 21,129 shares of the company’s stock worth $964,000 after buying an additional 2,468 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APPN. William Blair restated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Citigroup upped their price objective 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 decreased their price objective on shares of Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Barclays decreased their price objective 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. Finally, DA Davidson decreased their price objective on shares of Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.43.

Appian Trading Up 0.6 %

Shares of Appian stock opened at $28.14 on Tuesday. The firm has a 50-day moving average of $31.60 and a 200-day moving average of $34.36. The stock has a market cap of $2.03 billion, a PE ratio of -19.14 and a beta of 1.43. Appian Co. has a 52-week low of $26.28 and a 52-week high of $52.99. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33.

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

Insider Buying and Selling

In other news, Director Albert G.W. Biddle III acquired 3,225 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $28.02 per share, with a total value of $90,364.50. Following the completion of the transaction, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 44.00% of the stock is currently owned by company insiders.

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.