Parisi Gray Wealth Management Buys New Holdings in Appian Co. (NASDAQ:APPN)

Parisi Gray Wealth Management bought a new stake in shares of Appian Co. (NASDAQ:APPN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 540 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its holdings in Appian by 20.0% in the 1st quarter. Teacher Retirement System of Texas now owns 3,676 shares of the company’s stock worth $489,000 after buying an additional 612 shares during the period. UBS Group AG lifted its holdings in Appian by 16.1% in the 1st quarter. UBS Group AG now owns 47,001 shares of the company’s stock worth $6,249,000 after buying an additional 6,524 shares during the period. JPMorgan Chase & Co. lifted its holdings in Appian by 174.5% in the 1st quarter. JPMorgan Chase & Co. now owns 115,101 shares of the company’s stock worth $15,303,000 after buying an additional 269,518 shares during the period. Prudential Financial Inc. lifted its holdings in Appian by 6.4% in the 1st quarter. Prudential Financial Inc. now owns 2,653 shares of the company’s stock worth $353,000 after buying an additional 160 shares during the period. Finally, Cresset Asset Management LLC lifted its holdings in Appian by 12.9% in the 1st quarter. Cresset Asset Management LLC now owns 1,939 shares of the company’s stock worth $259,000 after buying an additional 222 shares during the period. Institutional investors own 38.52% of the company’s stock.

APPN stock opened at $91.59 on Thursday. Appian Co. has a twelve month low of $62.29 and a twelve month high of $260.00. The firm has a market cap of $6.51 billion, a PE ratio of -136.70 and a beta of 1.77. The business has a 50 day moving average of $100.90 and a 200 day moving average of $111.35.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Wednesday, August 4th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). Appian had a negative net margin of 14.33% and a negative return on equity of 14.87%. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $77.74 million. On average, equities research analysts predict that Appian Co. will post -0.94 earnings per share for the current year.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Appian from a “sell” rating to a “hold” rating in a report on Wednesday, July 7th. Truist Securities dropped their price objective on Appian from $205.00 to $120.00 and set a “hold” rating for the company in a report on Monday, August 2nd. Barclays increased their target price on Appian from $77.00 to $90.00 and gave the stock an “underweight” rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Truist decreased their target price on Appian from $205.00 to $120.00 and set a “hold” rating for the company in a research report on Monday, August 2nd. They noted that the move was a valuation call. Finally, Needham & Company LLC reissued a “buy” rating and issued a $186.00 target price on shares of Appian in a research report on Tuesday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Appian has an average rating of “Hold” and a consensus target price of $123.86.

About Appian

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

Recommended Story: Growth Stocks

Want to see what other hedge funds are holding APPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Appian Co. (NASDAQ:APPN).

Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.