Appian (NASDAQ:APPN) Now Covered by Scotiabank

Scotiabank began coverage on shares of Appian (NASDAQ:APPN) in a research report report published on Monday, Marketbeat.com reports. The brokerage issued a sector perform rating and a $37.00 price objective on the stock.

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

Appian Trading Up 2.8 %

Shares of Appian stock opened at $34.85 on Monday. Appian has a 1 year low of $26.28 and a 1 year high of $43.33. The stock has a 50-day moving average price of $37.00 and a 200 day moving average price of $33.79. The company has a market cap of $2.98 billion, a P/E ratio of -28.57 and a beta of 1.61.

Insiders Place Their Bets

In other Appian news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the transaction, the director now directly owns 7,966 shares in the company, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Appian by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock valued at $2,739,000 after purchasing an additional 491 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Appian by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after buying an additional 686 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Appian in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after acquiring an additional 1,088 shares during the period. Finally, Rhumbline Advisers raised its holdings in Appian by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock worth $1,845,000 after acquiring an additional 1,386 shares during the period. Institutional investors and hedge funds 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.