King Luther Capital Management Corp Has $4.16 Million Stock Holdings in Appian Co. (NASDAQ:APPN)

King Luther Capital Management Corp lessened its holdings in shares of Appian Co. (NASDAQ:APPN) by 12.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 126,049 shares of the company’s stock after selling 17,112 shares during the period. King Luther Capital Management Corp owned 0.15% of Appian worth $4,157,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APPN. GSA Capital Partners LLP boosted its position in shares of Appian by 354.7% during the third quarter. GSA Capital Partners LLP now owns 57,630 shares of the company’s stock worth $1,967,000 after purchasing an additional 44,957 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Appian during the third quarter worth $266,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Appian by 88.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock worth $2,412,000 after purchasing an additional 33,232 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Appian during the third quarter worth $393,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Appian by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock worth $11,432,000 after purchasing an additional 3,817 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on APPN shares. Barclays lifted their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Scotiabank started coverage on shares of Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective on the stock. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One research 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. According to MarketBeat.com, Appian has a consensus rating of “Hold” and an average target price of $40.17.

Insiders Place Their Bets

In other news, Director Albert G.W. Biddle III sold 990 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the transaction, the director now directly owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 44.00% of the company’s stock.

Appian Price Performance

Shares of NASDAQ:APPN opened at $30.46 on Thursday. The company’s 50-day moving average price is $33.40 and its two-hundred day moving average price is $34.31. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The stock has a market capitalization of $2.26 billion, a PE ratio of -24.17 and a beta of 1.65.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. During the same period last year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts anticipate that Appian Co. will post -0.28 earnings per share for the current fiscal year.

About Appian

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.