Appian (NASDAQ:APPN) Upgraded to “Strong-Buy” by BidaskClub

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Appian (NASDAQ:APPN) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, BidAskClub reports.

APPN has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Appian from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Thursday, January 16th. Needham & Company LLC initiated coverage on shares of Appian in a research note on Friday, January 10th. They set a “buy” rating and a $49.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Appian has a consensus rating of “Buy” and a consensus price target of $42.73.

Shares of APPN opened at $59.82 on Friday. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -72.07 and a beta of 0.76. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.02. Appian has a 12 month low of $30.43 and a 12 month high of $62.94. The company has a 50-day moving average price of $47.87 and a two-hundred day moving average price of $46.95.

In other news, Director Michael G. Devine sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $44.20, for a total transaction of $221,000.00. Following the completion of the sale, the director now owns 12,935 shares of the company’s stock, valued at $571,727. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David Leon Mitchell sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $44.53, for a total transaction of $33,397.50. Following the sale, the vice president now directly owns 9,797 shares of the company’s stock, valued at approximately $436,260.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,750 shares of company stock valued at $1,107,528. Corporate insiders own 50.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of APPN. Barclays PLC increased its holdings in shares of Appian by 2,806.3% during the third quarter. Barclays PLC now owns 584,257 shares of the company’s stock worth $27,752,000 after buying an additional 564,154 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Appian by 13.7% during the fourth quarter. Baillie Gifford & Co. now owns 3,578,540 shares of the company’s stock worth $136,736,000 after buying an additional 431,901 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Appian by 48.4% during the fourth quarter. First Trust Advisors LP now owns 930,785 shares of the company’s stock worth $35,565,000 after buying an additional 303,782 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Appian during the third quarter worth approximately $12,274,000. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of Appian by 77.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 534,133 shares of the company’s stock worth $20,409,000 after buying an additional 232,713 shares in the last quarter. 41.73% of the stock is owned by institutional investors.

About Appian

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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